Stem's Strategic Collaboration with Neovolt
SAN FRANCISCO-- Stem (NYSE: STEM), a leader in AI-driven clean energy software and services, has announced a groundbreaking collaboration with Neovolt, a major player in Hungary’s renewable energy landscape. This partnership marks a significant milestone, as Stem’s award-winning solar monitoring and optimization solutions will be integral to operating a substantial 484 megawatt (MW) solar portfolio. The agreement spans five years, centered around Stem's advanced PowerTrack Web, which is designed to monitor, optimize, and enhance the performance of Neovolt's extensive solar sites.
Driving Renewable Energy Forward
Under this partnership, Stem aims to provide a comprehensive operational viewpoint across eight utility-scale solar sites, reinforcing the reliability and efficiency of these renewable energy sources. Neovolt's decision to adopt Stem's solutions came from the company’s recognized expertise in both execution and adapting renewable energy assets to local market conditions. With a formidable total install base exceeding 720 MWp in the region, Stem is making significant strides in expanding its presence in Eastern Europe.
Neovolt’s Vision for Sustainable Energy
Ritter Antal, CEO of Neovolt, expressed optimism about the partnership, noting, “We have seen Stem drive value throughout the commissioning of this portfolio with their engineering expertise and outstanding software solutions. With over 500 MW of assets built in Hungary, ensuring optimal portfolio performance is crucial to our renewable energy vision for the future.” This sentiment highlights the necessity of seamless operation and performance in the renewable sector, emphasizing Stem's commitment to this vision.
Comprehensive Support and Advanced Solutions
From the project's inception, Stem played an essential role in supporting Neovolt through comprehensive network design and by applying best practices learned from extensive large-scale solar projects throughout Europe. By closely collaborating with local Engineering, Procurement, and Construction (EPC) firms and O&M provider, EXTOR Energy, Stem has been able to deliver its advanced Edge-to-Cloud solution effectively. This includes global engineering expertise, a robust supply chain, and a dedicated production team aimed at meeting Neovolt’s commercial operation deadlines.
Optimizing Performance with PowerTrack Web
Post-deployment, PowerTrack Web has proven beneficial by enhancing solar plant performance. Its flexible and scalable SCADA functionalities cater to current and future needs of utility-scale photovoltaic (PV) power plants. Features such as remote monitoring, real-time system updates, and enhanced security mechanisms are designed to support Service Organization Controls (SOC) compliance across Neovolt's portfolio, ensuring adaptability to emerging regulations.
Commitment to the Future of Clean Energy
According to Sebastian Grenz, Managing Director of EMEA at Stem, “We are thrilled to have played a crucial role in the successful commissioning of Neovolt’s renewable energy projects with our advanced edge-to-backend cloud solutions. This five-year partnership is a testament to Stem’s dedication to facilitating effective project management and execution within the realm of large-scale renewable energy.”
About Stem
Stem (NYSE: STEM) is at the forefront of AI-enabled software and services that empower clients to effectively plan, deploy, and manage their clean energy assets. Offering an extensive suite of solutions, Stem transforms the development, construction, and operation of solar and energy storage projects. With over 16,000 global customers relying on Stem’s innovative technologies, the company is dedicated to maximizing the value of clean energy portfolios. Discover more at stem.com.
About Neovolt
Neovolt is committed to developing and operating a diverse portfolio of renewable power plants, primarily focusing on grid-connected solar facilities within Hungary. With an aim to advance their energy initiatives, Neovolt stands at the forefront of renewable energy development in the region.
Frequently Asked Questions
What is the significance of Stem's agreement with Neovolt?
The partnership is pivotal as it enhances the performance and operation of a 484 MW solar portfolio through Stem’s AI-driven solutions.
How does Stem’s PowerTrack Web benefit solar sites?
PowerTrack Web optimizes performance and monitoring across utility-scale sites, ensuring both current needs and future scalability.
Who is involved in the project alongside Stem?
Stem collaborates with local EPCs and EXTOR Energy, an O&M provider, to enhance project execution and management.
What are Stem's primary areas of expertise?
Stem specializes in AI-enabled software, renewable energy asset monitoring, and operational management across various markets.
How many global customers does Stem serve?
Stem supports over 16,000 customers around the world, focused on maximizing the value of their clean energy initiatives.
