SMP 285: How Battery Storage Is Powering the Future of the Grid with Russell Laplante, CFO of Convergent Energy and Power

In this episode of the Solar Maverick Podcast, Benoy Thanjan speaks with Russell Laplante, Chief Financial Officer of Convergent Energy and Power, one of the leading battery storage developers and operators in the United States. Russ shares his nearly two-decade journey in renewable energy from his Goldman Sachs training program to becoming the first employee at wind startup Own Energy in 2007, through utility-scale solar at Tradewind Energy and Savion, and now leading the financial strategy at Convergent's distributed and utility-scale battery storage platform. The conversation covers Convergent's business model working with commercial and industrial customers on behind-the-meter battery and solar-plus-storage projects, how they save C&I customers up to 40% on their energy bills, and how batteries help utilities defer costly transmission and distribution upgrades. The episode dives deep into the financing of battery storage, including tax equity, portfolio debt financing, partnership flip structures, and why distributed generation requires a fundamentally different capital strategy than utility-scale projects. Russ also shares his perspective on the massive opportunity around data centers, AI-driven load growth, speed to grid, the Big Beautiful Bill, ITC extension for storage, and what Foreign Entity of Concern(“FEOC”) compliance means for the battery supply chain. Biographies Benoy Thanjan Benoy Thanjan is the Founder and CEO of Reneu Energy, solar developer and consulting firm, and a strategic advisor to multiple cleantech startups. Over his career, Benoy has developed over 100 MWs of solar projects across the U.S., helped launch the first residential solar tax equity funds at Tesla, and brokered $50 million in Renewable Energy Credits (“REC”) transactions. Prior to founding Reneu Energy, Benoy was the Environmental Commodities Trader in Tesla’s Project Finance Group, where he managed one of the largest environmental commodities portfolios. He originated REC trades and co-developed a monetization and hedging strategy with senior leadership to enter the East Coast market. As Vice President at Vanguard Energy Partners, Benoy crafted project finance solutions for commercial-scale solar portfolios. His role at Ridgewood Renewable Power, a private equity fund with 125 MWs of U.S. renewable assets, involved evaluating investment opportunities and maximizing returns. He also played a key role in the sale of the firm’s renewable portfolio. Earlier in his career, Benoy worked in Energy Structured Finance at Deloitte & Touche and Financial Advisory Services at Ernst & Young, following an internship on the trading floor at D.E. Shaw & Co., a multi billion dollar hedge fund. Benoy holds an MBA in Finance from Rutgers University and a BS in Finance and Economics from NYU Stern, where he was an Alumni Scholar.   Guest Information Russell Laplante Russell Laplante is the Chief Financial Officer of Convergent Energy and Power, one of the leading battery storage developers and operators in the United States, with over $1 billion deployed and 800 megawatts of projects operational, under construction, or in development. Russ has nearly two decades of experience in renewable energy. He began his career at Goldman Sachs before joining Own Energy in 2007 as its first employee, where he worked hands-on in utility-scale wind development across Kansas, Oklahoma, and Texas. He later joined Tradewind Energy in an origination role before leading M&A for the solar platform that eventually became Savion. After Shell acquired Savion in 2021, Russ served as Chief Investment Officer before joining Convergent in 2025 as CFO. At Convergent, Russ oversees capital markets strategy, debt and tax equity financing, and the company's portfolio approach to distributed energy storage across commercial, industrial, and utility customers. Linkedin: https://www.linkedin.com/in/russell-laplante-cfa-42353510   Stay Connected: Benoy Thanjan Email: [email protected]  LinkedIn: Benoy Thanjan Website: https://www.reneuenergy.com Website: https://www.solarmaverickpodcast.com/   Convergent Energy and Power  Website: https://www.convergentep.com Linkedin:  https://www.linkedin.com/company/convergent-energy-power/   Summer Solstice Fundraiser Benoy is hosting the Summer Solstice Fundraiser on June 4th in Jersey City at Hudson Hall, bringing together the clean energy community for an evening of networking and impact. The event supports Let’s Share the Sun, a nonprofit delivering solar and energy storage solutions to underserved communities in Puerto Rico, including families with critical 24 hour energy needs. The event will run from 6 PM to 10 PM and includes food, networking, and a special program at 8 PM featuring insights from the Let’s Share the Sun team, delegation participants, and event sponsors.  This will be Benoy’s third delegation in the past year, and he highlights the importance of meeting beneficiaries firsthand and seeing how solar is transforming lives. Those interested in attending or sponsoring are encouraged to reach out directly or register here:  https://luma.com/jl734ggi   Please provide 5 star reviews      If you enjoyed this episode, please rate, review and share the Solar Maverick Podcast so more people can learn how to accelerate the clean energy transition.    Reneu Energy Reneu Energy provides expert consulting across solar and storage project development, financing, energy strategy, and environmental commodities. Our team helps clients originate, structure, and execute opportunities in community solar, C&I, utility-scale, and renewable energy credit markets. Email us at [email protected] to learn more.