Stem to Support 484 MW Hungarian Solar Portfolio in Company’s Largest Software Deal in EMEA

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Five-year agreement is evidence of the Company’s AI-driven value and utility-scale traction in Eastern Europe

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SAN FRANCISCO, January 14, 2025–(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.