Convergent Energy and Power closed a programmatic tax equity financing deal with East West Bank to support its energy storage projects in New York and Maryland.
PRIVATENov 21, 2024
Round Type
Venture
New YorkManufacturingRenewable EnergySemiconductors
Investors
Greenprint CapitalEast West Bank
Description
Convergent Energy and Power has finalized a tax equity financing arrangement with East West Bank to enhance its energy storage portfolios. This funding aims to improve reliability and sustainability for over 8,000 customers on the East Coast.
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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.
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New YorkManufacturingRenewable EnergySemiconductors