Connecticut Green Bank Recognizes CPower as Energy Storage Solutions Top Performer for Second Year in a Row

The Connecticut Green Bank Awards Highlight CPower's Leadership in Expanding Access to Energy Storage to Support Greater Grid Reliability in the State

BALTIMORE, March 21, 2024 /PRNewswire/ -- CPower Energy ("CPower"), the leading, national Distributed Energy Resource (DER) monetization and Virtual Power Plant (VPP) provider, today announced that it has been awarded a 2023 Green Bank Award as a Top Performing Commercial Contractor in Connecticut's Energy Storage Solutions. This is the second year in a row that CPower has been recognized for its efforts to advance energy storage deployment under the program. The Connecticut Green Bank established the Green Bank Awards to recognize companies advancing the green energy movement and helping bring resilience, health, and equity to Connecticut.

Launched in 2022 and co-administered by the Green Bank, Eversource and UI, Energy Storage Solutions is a Public Utilities Regulatory Authority (PURA) program that incentivizes Eversource and UI customers to install batteries in their homes and businesses, helping customers across Connecticut increase their resilience when weather-related outages occur and providing benefits to the grid and all ratepayers. In 2022, CPower was awarded more than 25 MW of battery systems for the first tranche of the program. In 2023, this number increased to 44 MW of awarded storage systems to effectively support Connecticut's energy grid.

"We're grateful to be recognized by the Connecticut Green Bank for the second year in a row for supporting our customers in adopting energy storage solutions," said Keith Black, Regional Vice President ? Northeast, CPower. "It's wonderful to help businesses in Connecticut realize the full value of energy storage for the resiliency of their own operations as well as the wider grid. We look forward to continuing our work with Connecticut energy users, where we've been supporting the state's sustainability goals for over 15 years and counting."

"I'm pleased to present CPower with an Energy Storage Solutions Top Contractor award for the second year in a row. CPower has been one of the most active commercial and industrial participants in Energy Storage Solutions both as a developer and as a contributor to the regulatory process. The 11 battery energy storage systems that CPower was awarded will benefit Connecticut ratepayers by shifting up to 44 MW of demand from the grid at peak hours in the summer and winter," said Edward Kranich, Senior Manager of Incentive Programs at the Connecticut Green Bank.

CPower is the country's leading DER Monetization and VPP provider, with 6.7 GW of DER capacity at more than 27,000 sites across the U.S. Nationally, CPower manages nearly 1 GW distributed generation and energy storage capacity. CPower guides energy users in sectors including education, healthcare, government, manufacturing, and data centers, on their energy storage needs and manages energy storage assets to help its customers save on energy costs, strengthen their operational resilience, and reach sustainability goals while supporting the resiliency of the wider grid through VPPs.

About CPower Energy
CPower Energy is the leading, national Distributed Energy Resource (DER) monetization and Virtual Power Plant provider, creating the Customer-Powered Grid® that will enable a flexible, clean and dependable energy future. With 6.7 GW of capacity at more than 27,000 sites across the U.S., we unlock the full value of DERs to strengthen the grid when and where reliable, dispatchable resources are needed most. CPower is based in Baltimore, Maryland, and is owned by LS Power, a development, investment and operating company focused on the power and energy infrastructure sector. For more information, visit: www.cpowerenergy.com.

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SOURCE CPower Energy Management