Germany’s Steag Group Picks Up Stake In Solytic GmbH

Steag Acquires Stake In German Solar Monitoring Software Company Solytic To Optimize Its PV Plants

Germany’s Steag Group Picks Up Stake In Solytic GmbH

Steag says the Solytic deal enables it to address all 3 current ‘megatrends’ in the energy industry namely digitalization, decarbonization and decentralization. (Photo Credit: Steag GmbH)

  • Steag has become a shareholder in solar monitoring software company Solytic GmbH
  • It enables Steag to strengthen its competencies in digitalization and further optimize its renewable energy portfolio
  • Solytic gets to use Steag’s market position to strengthen and expand its business

One of the largest power generators in Germany that’s also active in the space of solar power as developer and EPC service provider, Steag has acquired a stake in Berlin based independent energy internet of things (IoT) data platform Solytic GmbH to improve its competencies in digitalization and renewables.

Solytic supplies cloud-based monitoring software for PV systems to help improve their economic efficiency. With Steag on board, Solytic can further develop its business using the technical and energy industry experience of the former.

“The development of the distributed energy market continues to accelerate. The market now needs digital solutions that sustainably support these changes. That’s why we want to focus even more on our core competence in energy data processing in the future, to actively shape and promote this change,” said Solytic CEO Johannes Burgard.

For Steag that addresses solar energy market through its subsidiary Steag Solar Energy Solutions GmbH (SENS), the investment enables it to address all 3 current ‘megatrends’ in the energy industry that it describes as digitalization, decarbonization and decentralization.

Solytic’s software will be used by the German energy group to optimize PV plants and make its renewable energy generation portfolio even more sustainable and economical.

“By joining Solytic, we are strengthening our digital competence, creating the best conditions for additional optimization of our renewable generation portfolio and looking forward to further successful digital solutions from our new partner,” explained Steag’s Director for Market and Technology Dr. Ralf Schiele. Steag has not revealed further details of this deal.

The duo now plans to join forces in areas as cloud solutions, big data based analysis and control tools and applications in the field of artificial intelligence (AI) and automated learning.

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.

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