Convergent Energy + Power said it will acquire SMT Energy’s 5 MW/20 MWh battery energy storage opportunity on Staten Island, New York. Terms were not disclosed.
The system would be connected to the ConEdison power grid as a distributed generation asset, and could come online in 2022.
Revenue from the battery system will be secured through contracted and merchant revenue as set by New York State Energy Research and Development’s Value of Distributed Energy Resources program. Convergent will oversee all remaining development activities, including financing, engineering, procuring, constructing, and operating the asset. Additional terms were not disclosed.
SMT Energy focuses on community solar and standalone energy storage facilities. Convergent has over a decade of experience financing and managing all aspects of energy storage development.