Germany's Steag buys into PV monitoring startup Solytic

Aug 23, 2022 12:32 PM ET
  • German power team Steag GmbH is getting a rate of interest in Berlin-based cleantech Solytic GmbH which operates a digital platform developed to improve the performance of solar parks.
Germany's Steag buys into PV monitoring startup Solytic
Image: STEAG GmbH

The start-up supplies cloud-based monitoring software for solar (PV) systems which maximise solar performance to save costs, drive revenues and prolong life cycles.

With the financial investment in Solytic, Steag looks for to gain from the existing major trends in the energy sector-- digitalisation, decarbonisation and decentralisation, the power firm stated on Monday.

The teamwork with the cleantech will add a PV monitoring solution to Steag which is currently associated with the project advancement and also building and construction of ground-mounted solar plants through its subsidiary Steag Solar Energy Solutions GmbH-- SENS. In recent months, the device turned on a 30-MW solar park in Spain and started the building and construction of a 12-MWp solar-plus-storage project in Germany.

Solytic and Steag will partner in areas including cloud solutions, Large Data-based analysis and also control tools, in addition to applications in the field of AI as well as automated understanding.

"By signing up with Solytic, we are enhancing our digital skills, creating the best problems for extra optimisation of our sustainable generation portfolio and looking forward to further effective digital remedies from our brand-new partner," said Steag's market and technology director Ralf Schiele.

Details regarding the acquired equity risk as well as the cost of the deal were not divulged.

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