Stem Supporting Commercial Operation of 304MW DC Solar Power Plant in Hungary

Rhea-AI Summary

Stem, a global leader in AI-driven clean energy software and services, has announced that its solar monitoring and optimization solutions are now operational in Hungary's largest solar power plant, Mezőcsát. The 304 MW DC power plant aims to reduce Hungary's reliance on natural gas and increase electricity generation from alternative energy sources. Stem's AI clean energy platform, Athena®, includes AlsoEnergy's PowerTrack and PowerManager Control Solutions. The project solidifies Stem's utility scale leadership in Eastern Europe.

Athena^® Platform and SCADA solution monitoring and optimizing the country’s largest PV power plant

SAN FRANCISCO--(BUSINESS WIRE)-- Stem (NYSE: STEM), a global leader in artificial intelligence (AI)-driven clean energy software and services, today announced that its award-winning solar monitoring and optimization solutions are now commercially operational as part of Hungary’s largest solar power plant, Mezőcsát. Athena^®, Stem’s AI clean energy platform, includes AlsoEnergy’s PowerTrack and PowerManager Control Solutions (PMCS), which are designed to help the 304 MW DC power plant reduce Hungary’s reliance on natural gas and increasing electricity generated from alternative energy sources. EXTOR Energy, a Hungarian engineering, procurement, and construction provider (EPC) and Stem certified service partner in the region, is the operations and maintenance (O&M) provider for the Mezőcsát project. The announcement follows Stem’s successful launches of four other 60MW projects in Hungary over the past year and further solidifies the company’s utility scale leadership in Eastern Europe.

“EXTOR Energy´s partnership with Stem has already proven to be valuable to our initial solar projects across Hungary, but this is just the beginning of our collaboration,” said CEO at EXTOR Energy. “We are excited to continue working with Stem as we enhance our PV projects with advanced storage solutions to further maximize value across those assets.”

“Stem is excited to see our international strategy coming to fruition with the successful activation of utility-scale clean energy assets, especially as the European market prepares for Net-Zero Industry Act (NZIA), one of the biggest investment initiatives in the renewable energy sector,” said John Carrington, CEO at Stem. “As more businesses explore storage solutions, we look forward to continuing to deliver value and support in monetizing more clean energy projects in existing and expanding markets.”

Athena’s vertically integrated hardware and software solutions are designed to enable utilities to maximize the output of renewable energy assets. The edge-to-cloud clean energy optimization solutions, combined with Stem’s professional services, provide the convenience and security of a single-source provider throughout the project lifecycle. PowerTrack, PMCS for power plant control and data acquisition, plus onsite weather sensors provide direct access to actual site conditions, to meet the demanding utility-grade monitoring and control requirements. Providing high-quality analytics of onsite conditions and remote-control functionality, PowerTrack enables informed insights to improve energy and financial performance. AlsoEnergy’s in-house experts in design, engineering, commissioning, and operations provided the SCADA system design, power plant controller (PPC) configuration, project management, and remote commissioning support for a fast installation, quick interconnection, and plant performance maximization. In addition, its dedicated engineering team helped to accelerate asset onboarding onto PowerTrack to decrease time to data.

Hungary has emphasized the importance of increasing electricity from alternative sources along with new production, storage capacities and the infrastructure to support the country’s goal of energy sovereignty and energy production. The $185.9 million investment represents the largest continuous solar park in Eastern Europe, which accounts for eight percent of the electricity produced by all domestic solar power plants. Occupying approximately ​​​​1087 acres (440 hectares) and consisting of 466,000 solar panels, the massive solar power plant is already connected to the Hungarian electricity grid and can produce 372 gigawatt hours (GWh) of electricity annually (enough to power the Hungarian city of Debrecen with a population of 200,000 for half a year).

About Stem

Stem provides clean energy solutions and services designed to maximize the economic, environmental, and resiliency value of energy assets and portfolios. Stem’s leading AI-driven enterprise software platform, Athena® enables organizations to deploy and unlock value from clean energy assets at scale. Powerful applications, including AlsoEnergy’s PowerTrack, simplify and optimize asset management and connect an ecosystem of owners, developers, assets, and markets. Stem also offers integrated partner solutions to help improve returns across energy projects, including storage, solar, and EV fleet charging. For more information, visit www.stem.com.

Source: Stem, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230706659421/en/

For News Media:

Stem Investor Contacts

Ted Durbin, Stem

Marc Silverberg, ICR

IR@stem.com

Stem Media Contacts

Suraya Akbarzad, Stem

press@stem.com

Stem Regional Contacts

Anton Raic, Head of Sales EMEA

A.Raic@alsoenergy.com

Source: Stem, Inc.

FAQ

What is the name of the company mentioned in the press release?

The company mentioned in the press release is Stem.

What is the name of the solar power plant in Hungary?

The solar power plant in Hungary is called Mezőcsát.

What is the capacity of the Mezőcsát power plant?

The Mezőcsát power plant has a capacity of 304 MW DC.

What is the goal of the power plant in terms of reducing reliance on natural gas?

The power plant aims to reduce Hungary's reliance on natural gas and increase electricity generation from alternative energy sources.

What are the solutions included in Stem's AI clean energy platform?

Stem's AI clean energy platform, Athena®, includes AlsoEnergy's PowerTrack and PowerManager Control Solutions.

Who is the operations and maintenance provider for the Mezőcsát project?

The operations and maintenance provider for the Mezőcsát project is EXTOR Energy.

What is the significance of the Mezőcsát project for Stem?

The Mezőcsát project solidifies Stem's utility scale leadership in Eastern Europe.

What is the investment amount for the Mezőcsát project?

The investment amount for the Mezőcsát project is $185.9 million.

What is the annual electricity production capacity of the Mezőcsát power plant?

The Mezőcsát power plant can produce 372 gigawatt hours (GWh) of electricity annually.