BOLTON, ONT. — Convergent Energy + Power has announced it has finished construction on a first-of-its-kind energy storage project, an 8.5-megawatt system installed at Husky Injection Molding System Ltd. in Bolton, Ont.
Convergent is a developer of energy storage projects throughout North America with offices in Toronto and New York City, a media statement noted.
The Bolton project is designed to reduce Global Adjustment demand charges and is anticipated to reduce electricity costs on the load it addresses by 15 to 30 per cent per year starting in 2018.
Convergent worked with Lockheed Martin Energy to install Lockheed’s GridStar Lithium battery systems and also used local Mississauga-based vendors for the balance of plant equipment, Ontario-based S&T Electric for construction management and SNC-Lavalin for the design work.
“We deploy energy storage to reduce electricity costs for our customers under a shared savings agreement,” said Johannes Rittershausen, CEO of Convergent, in the statement. “That means we handle all the cost and risks of building and managing the project, and the customer shares in the savings created.”
Husky Injection Molding Systems specializes in injection molding equipment and services to the plastics industry.
The new Convergent system is designed to reduce demand charges. The system will be operational as soon as Hydro One is finished with its interconnection work, the statement said.
Convergent is the largest owner/operator of constructed energy storage projects in Canada, the statement indicated.
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