Stem Inc. Expands in Europe with Major Solar Software Deal
San Francisco, Tuesday, 14 January 2025.
Stem Inc. secures a five-year agreement to manage a 484 MW solar portfolio in Hungary, enhancing its foothold in Eastern Europe’s renewable energy market.
Strategic Expansion Details
The landmark agreement positions Stem Inc. to provide comprehensive solar monitoring and optimization solutions across eight utility-scale sites in Hungary through its PowerTrack Web platform [1][2]. This development adds significant capacity to Stem’s already substantial presence in Eastern Europe, where the company maintains over 720 MWp in total installations [2]. The deal with Neovolt, a company that has developed more than 500 MW of assets in Hungary [2], represents Stem’s largest software agreement in the EMEA region to date.
Technical Implementation and Innovation
Stem’s deployment includes its advanced Edge-to-Cloud solution, incorporating sophisticated monitoring and control capabilities [1]. The company’s PowerTrack Web platform will deliver comprehensive portfolio management, featuring remote power plant controls, real-time system updates, and enhanced security measures designed to ensure Service Organization Controls (SOC) compliance [1][3]. Working alongside local EPCs and O&M provider EXTOR Energy, Stem has integrated its global engineering expertise with local market knowledge to optimize the portfolio’s performance [2].
Market Impact and Future Outlook
Sebastian Grenz, Managing Director of EMEA at Stem, emphasizes that this agreement strengthens the company’s position in utility-scale clean energy asset monitoring across Eastern Europe’s expanding market [2]. Neovolt’s CEO Ritter Antal specifically highlighted Stem’s localized engineering expertise and outstanding software solutions as key factors in their selection [2]. The implementation of improved production forecasting methods and robust troubleshooting processes is expected to enhance operational efficiency across the entire portfolio [1][3].