Acquiring Ownership from Shell New Energies, Endurant Now Owns the Batteries its Team Developed for Con Edison’s Innovative Demonstration Project
NEW YORK--(BUSINESS WIRE)--Endurant Energy, a full-service distributed energy resources developer and owner, today announced the completed acquisition of the battery energy storage systems that Endurant developed for Con Edison’s Demonstration Project across New York City.
Endurant Energy has been developing, permitting, and constructing the energy storage systems for Shell New Energies, and has now acquired from Shell the ownership rights of up to four systems – positioning Endurant as a battery owner and operator.
Endurant (formerly GI Energy) is a pioneer in the nation-leading New York energy storage market as the creator of a business model that drives the integration of energy storage systems into the city’s grid, and one of the few experts in the country at building these systems.
Two of the 1-megawatt/1-megawatt hour lithium-ion battery systems for Con Edison are already operational – on City Island in the Bronx and at Caddell Dry Dock on Staten Island, with a third site in Woodside, Queens undergoing commissioning and a fourth in the development stage. The storage systems help with reliability and modernizing the energy grid. This is particularly helpful on hot summer days when the demand for power is highest.
“This purchase, made possible by our partnership with LS Power, positions us as a leading developer-owner-operator of distributed-scale energy storage systems,” said Endurant COO Dan McDevitt. “We’re incredibly proud to be leading the way, executing successful projects in this fast-moving market.”
“Our battery storage project with Endurant highlights Con Edison’s commitment to clean energy and our desire to work with partners on innovative demonstration projects,” said Katelyn Tsukada, a section manager in Con Edison’s Demonstration Projects group. “Through our work with Endurant, we have gained valuable insights that we can use to help New York State meet its battery storage goals. Energy storage helps maximize the benefits of renewable energy and will contribute to a clean energy future.”
Under Con Edison’s demonstration project, Endurant and Con Edison chose customer locations where Con Edison’s analysis showed battery storage would help keep its service reliable. Endurant plans to dispatch the units into the wholesale market when Con Edison is not using them for grid support. This is possible due to changes made by NYISO, which incorporated ‘Dual Participation’ into their tariffs in 2020. Endurant is also looking forward to the rollout of NYISO’s Distributed Energy Resources participation model; together with Con Edison, the Endurant team worked with NYISO to successfully test these battery assets in the NYISO DER Pilot Program in summer 2020.
Endurant is headquartered in Chicago, with offices in New York City as well as Anaheim and Beverly Hills, California.
About Endurant Energy:
Endurant Energy develops and owns reliable, resilient, clean and cost-effective on-site energy infrastructure solutions across the US. It has expertise in a wide range of solutions including renewable thermal systems at single building or district scale, fuel-based technologies for resiliency, solar + storage solutions and an integrated offering for eco-districts. Services include planning, development and permitting, financial structuring, design, and construction. Asset management services include operations and maintenance. By integrating solutions into clients' operations, Endurant is enabling the future of sustainable distributed energy. Endurant has been part of the LS Power portfolio since 2021. For more information, please visit endurant.com and follow us at @endurantenergy.
About LS Power:
LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, in addition to its development of over 660 miles of high voltage transmission, LS Power has developed, constructed, managed or acquired more than 45,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects. Additionally, LS Power actively invests in businesses focused on renewable energy and fuels, as well as distributed energy resource platforms, such as CPower Energy Management, Endurant Energy and EVgo. Across its efforts, LS Power has raised in excess of $47 billion in debt and equity financing to support North American infrastructure. For more information, please visit www.LSPower.com and follow us at @lspowergroup.
Contacts
For Endurant Energy:
Emma Walker
VP, Commercial Development
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