Green Charge Networks, with whom we hold an 80% stake, has won a contract award from New York utility Con Edison to deliver 13 megawatt hours for Con Edison’s Brooklyn-Queens Neighborhood Program.   The distributed energy storage portfolio will operate as a virtual power plant to mitigate peak load on the local distribution system. As part of Con Edison’s Neighborhood Program, the project will help the utility defer more than $1 billion in new infrastructure spending. Santa Clara, CA-based Green Charge will install, operate and maintain GridSynergy Storage at businesses, schools, housing cooperatives and multi-family unit facilities in the Brooklyn-Queens boroughs. Green Charge co-optimizes systems to provide customers with utility bill savings, backup power for critical loads, and solar PV integration. These systems will run for 10 years, adjusting operations in accordance with facility energy use patterns, time of day, weather variations, and solar production where present. Green Charge utilizes advanced patented software algorithms and analytics, deploys, owns, operates, and optimizes battery systems at commercial & industrial (C&I) and public sector customer sites in the United States. “Green Charge has been working with Con Edison since 2012 when we set out to tackle the increasing need to respond to rapid fluctuations in load on a moment’s notice,” states Vic Shao, CEO at Green Charge. “We have been operating together now for more than four years. The delivery network and energy storage systems have withstood 24/7 operation, multiple heat waves, the Polar Vortex and Hurricane Sandy. We are now set to enter the next phase of our work together – exploring cost effective means of relieving local energy congestion and system contingencies through a program designed to prevent or postpone the costly construction of new electrical infrastructure.” Green Charge notes “Our ecosystem of solar, EV charging, and energy efficiency partners allows our customers to combine energy storage and renewables easily and economically. Delivering all these capabilities with the least possible risk is the Green Charge Power Efficiency Agreement – a shared-savings model that puts the power of energy storage in customers’ hands with no capital outlay.” In May 2016, we acquired an 80 percent stake in Green Charge, which has developed a portfolio of 48 MWh of battery storage projects either deployed or under construction across more than 150 U.S. sites.