Stem to Support 484 MW Hungarian Solar Portfolio in Company’s Largest Software Deal in EMEA
Five-year agreement is evidence of the Company’s AI-driven value and utility-scale traction in Eastern Europe
SAN FRANCISCO–(BUSINESS WIRE)–Stem (NYSE: STEM), a global leader in artificial intelligence (AI)-enabled clean energy software and services, today announced that its award-winning solar monitoring and optimization solutions will be standard in supporting the commercial operation of a 484 megawatt (MW) solar portfolio for Neovolt, one of the largest asset owners in Hungary. Under the five-year agreement, Stem’s PowerTrack Web will monitor, optimize, and control eight utility-scale sites in Hungary, through a comprehensive view across the entire portfolio. Stem’s strength in both technical execution and local market adaptation of renewable energy assets was a key deciding factor for Neovolt to standardize on Stem. With PowerTrack Web’s more than 720 megawatt peak (MWp) total install base in the region, Stem continues to add to its growing foothold in Eastern Europe.
Ritter Antal, CEO at Neovolt, said, “We have seen Stem drive value throughout the commissioning of this portfolio with the invaluable support of Stem’s localized engineering expertise, well-aligned KPIs, and outstanding software solutions. Having built over 500MW of assets in Hungary, we must ensure the seamless operation and optimal performance of our portfolio supporting Neovolt’s renewable energy vision now and in the years to come. The combination of Stem’s powerful software solutions and experience in local markets made them the clear partner-of-choice. We look forward to continued successes as we scale our renewable energy portfolio.”
Stem played a pivotal role from the outset of the portfolio’s development, providing comprehensive support in network design and incorporating best practices from its extensive experience with large-scale solar plants across Europe. Working in close collaboration with local EPCs and trusted partner and O&M provider, EXTOR Energy, Stem deployed its advanced Edge-to-Cloud solution, global engineering expertise, robust supply chain, and production team to meet Neovolt’s targeted commercial operation dates. Since its deployment, PowerTrack Web has been operational across the extensive portfolio, enhancing plant performance through flexible and scalable SCADA functionalities designed to meet both current and future needs of utility-scale PV power plants. Remote power plant controls, execution of real-time system updates, and strong security measures are expected to help promote Service Organization Controls (SOC) compliance across the portfolio, regardless of evolving requirements. Together with improved production forecasting methods and robust troubleshooting processes, Stem is delivering a more seamless and efficient operational process across the assets for Neovolt.
“Stem continues to strengthen its leading position in utility-scale clean energy asset monitoring and control across the growing Eastern European market,” said Sebastian Grenz, Managing Director of EMEA at Stem. “We are proud to have supported the successful commissioning of Neovolt’s renewable energy portfolio with our edge-to-cloud solutions. This five-year agreement reflects the culmination of Stem’s commitment and expertise in supporting seamless project execution and management of large-scale renewable asset portfolios.”
About Stem
Stem (NYSE: STEM) is a global leader in AI-enabled software and services that enable its customers to plan, deploy, and operate clean energy assets. The Company offers a complete set of solutions that transform how solar and energy storage projects are developed, built, and operated, including an integrated suite of software and edge products, and full lifecycle services from a team of leading experts. More than 16,000 global customers rely on Stem to maximize the value of their clean energy projects and portfolios. Learn more at stem.com.
About Neovolt
Neovolt is developing and operating renewable power plant portfolio. The company is especially focusing on grid connected solar plants within the territory of Hungary.
Source: Stem, Inc.
Contacts
For News Media:
Stem Investor Contacts
Ted Durbin, Stem
Marc Silverberg, ICR
IR@stem.com
Stem Media Contact
Suraya Akbarzad, Stem
press@stem.com
Stem Regional Contact
Anton Raic, Director of Sales EMEA, Stem
a.raic@stem.com
