by Julian Spector
July 24, 2019

Private equity is developing a taste for energy storage. 

Energy Capital Partners, an energy investment heavyweight with $19 billion at its disposal, acquired commercial and industrial storage developer and owner Convergent earlier this month. 

On the surface, private equity appears to fit naturally with storage development. Despite the high-tech veneer of lithium-ion, storage projects are infrastructure, generating returns over decades, not months or a couple years. These projects need capital more patient than the venture capitalists...