Tigo Energy Provides EDF Renewables Israel with Predict+ System

Rhea-AI Summary

Tigo Energy collaborates with EDF Renewables Israel to maximize solar farm performance using Tigo Predict+ technology. The technology provides accurate forecasting models for energy trading decisions and managing market insights.

Tigo Predict+ technology provides a supply system with leading-edge financial forecasting capabilities

RAANANA, Israel--(BUSINESS WIRE)-- Tigo Energy, Inc. (Nasdaq: TYGO), a leading provider of intelligent solar and energy storage solutions, today announced the expansion of the Company’s collaboration with EDF Renewables Israel, part of EDF Group and a leading developer and operator of renewable energy, to maximize the performance of solar farms in Israel using Tigo Predict+ technology. As part of the Tigo Energy Intelligence (EI) platform, Tigo Predict+ technology enables EDF Renewables to integrate many diverse datasets to produce highly accurate, customizable forecasting models.

The Predict+ technology enables critical financial functions for EDF Renewables, such as:

• accurately forecasting and modeling energy meter data to enable energy trading decisions, including precise day-ahead and long-term forecasting of EDF Renewables Israel consumers’ consumption,
• managing market insights about demand, renewable supply, and utility pricing in the Israeli energy market,
• conducting high-resolution profit analyses using predicted and actual revenues from end-customers, as well as an API-level integration with billing systems for end-customer consumption data and invoicing, and
• producing accurate, consistent, and regulation-compliant reporting data for Israeli grid operator Noga.

“We are excited to expand our renewables and storage business by supplying electricity directly to end-consumers. Predict+ has a great industry reputation, trusted by independent power producers and virtual suppliers,” said Ayalon Vaniche, chief executive officer of EDF Renewables Israel.

Tigo Predict+ provides high-fidelity visibility into the performance of solar and wind energy systems through precise predictions, market insights, profit analysis, and regulation functions. Predict+ is part of the Tigo Energy Intelligence (EI) platform, a comprehensive digital platform designed to optimize solar installations' planning, installation, commissioning, monitoring, and maintenance phases, from individual residential systems to commercial, industrial, and utility-scale solar fleets. Tigo EI delivers the tools to decrease operations and maintenance costs, increase system performance and revenue, and improve the user experience for installers and asset owners. Tigo Predict+ is the first Foresight Energy, Ltd. product released under the Tigo brand since the company’s acquisition in early 2023.

“With Predict+, EDF Renewables now has the power of reliable and self-adaptable forecasting and a customizable, software-driven model to maximize the value of solar assets,” said Zvi Alon, chairman and CEO at Tigo Energy, Inc. “We look forward to continuing our work with EDF Renewables to optimize the company’s virtual supplier business and bolster its position as a leader in the energy utility space.”

To learn more about the Tigo EI platform and Predict+ technology, please visit our website.

About Tigo Energy

Founded in 2007, Tigo is a worldwide leader in the development and manufacture of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. The company also develops and manufactures products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit www.tigoenergy.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230801705162/en/

Technica Communications

Cait Caviness

tigoenergy@technica.inc

Tigo Israel Media Contact:

Liel Edry (KAMIR)

+972-50-8655-305

liel@kamir-e.com

Source: Tigo

FAQ

What is the collaboration between Tigo Energy and EDF Renewables Israel about?

The collaboration aims to maximize the performance of solar farms in Israel using Tigo Predict+ technology.

What does Tigo Predict+ technology do?

Tigo Predict+ technology enables the integration of diverse datasets to create highly accurate forecasting models.

What are the benefits of Tigo Predict+ technology for EDF Renewables Israel?

The technology enables accurate forecasting and modeling of energy meter data, enabling energy trading decisions and precise day-ahead and long-term forecasting of consumer consumption.