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Convergent Energy and Power Partners with East West Bank for Programmatic Tax Equity Financing
Nov 21, 2024
Contract Type
partnership
New YorkManufacturingRenewable EnergySemiconductors
Description
Convergent Energy and Power has closed a programmatic tax equity financing deal with East West Bank to support its New York and Maryland energy storage portfolios. The funding will enable Convergent to provide more cost-effective, reliable, and sustainable electricity to over 8,000 customers. The deal, originated by Greenprint Capital, also supports Convergent’s broader 2025 portfolio across North America, enhancing grid reliability on the East Coast.
Company Information
Company
Convergent Energy and Power
Location
New York, New York, United States
About
Convergent Energy and Power (Convergent) is a leading provider of energy storage solutions in North America. Convergent has over a decade of experience financing and managing all aspects of the energy storage development cycle to help customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition. Convergent’s proprietary asset management platform, PEAK IQ® leverages machine learning and deep market knowledge to optimize asset performance and maximize value. Convergent has over $1bn invested in or committed to assets in operation or under development across North America.
New YorkManufacturingRenewable EnergySemiconductors