Peak Power Partners with Diamond Generating Corporation to enter California Energy Storage Market
TORONTO, April 16, 2019 /PRNewswire/ - Peak Power Inc. announced today that it has been awarded a contract by Diamond Generating Corporation ("DGC") to provide software services for a behind-the-meter energy storage system (1MW/4MWh) to be installed in San Diego, California.
"DGC has been excited to work with Peak and has a high expectation with Peak's software and overall capabilities." said Yuichiro Matsui, Assistant Director, Diamond Generating Corporation. "We were looking for the best solution to maximize the value of our energy storage asset in California."
Peak, using it's AI-powered SynergyTM platform, will optimize the operation of the energy storage system for both front-of-the-meter and behind-the-meter value streams. In addition to increasing resiliency and reducing greenhouse gas, the system will provide relief to the CA electricity grid. The project is expected to reach commercial operation in 2019. This represents Peak's 4th ISO region in the past 6 months demonstrating the adaptability of the SynergyTM platform across jurisdictions.
"Peak Power is excited to work with DGC to enter the California market which is a leader in North American energy storage market", said Peak Power CEO, Derek Lim Soo. "California's leadership in energy storage policy and aggressive renewables targets make is a natural fit for market expansion for our company."
About Peak Power Inc.
Toronto-based Peak Power provides intelligent software and technology solutions for the evolving energy marketplace. Through their SynergyTM platform, Peak Power empowers building and business owners to achieve long-term savings by targeting expensive moments of peak demand. The Synergy™ platform uses forecasted and real-time data to optimize operation and adjust real-time asset schedules to changing market and weather conditions. Furthermore, these solutions help companies reach sustainability goals and increase onsite resiliency, while aiding utilities in addressing aging infrastructure.
About Diamond Generation Corporation
DGC is a wholly owned subsidiary of Mitsubishi Corporation and is a developer, owner and operator of privately owned power generating assets in the United States and Mexico. It currently has ownership interest in 13 operating power generating facilities, having total output capacity of approximately 7,800MW, with net equity of 3,400MW.
SOURCE Peak Power Inc.
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