Germany's Steag buys into PV monitoring start-up Solytic

German power group Steag GmbH is acquiring an interest in Berlin-based cleantech Solytic GmbH which operates a digital platform designed to enhance the performance of solar parks.

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

With the investment in Solytic, Steag seeks to benefit from the current major trends in the energy industry -- digitalisation, decarbonisation and decentralisation, the power company said on Monday.

The cooperation with the cleantech will add a PV monitoring solution to Steag which is already involved in the project development and construction of ground-mounted solar plants through its subsidiary Steag Solar Energy Solutions GmbH – SENS. In recent months, the unit switched on a 30-MW solar park in Spain and began the construction of a 12-MWp solar-plus-storage project in Germany.

Solytic and Steag will partner in areas including cloud solutions, Big Data-based analysis and control tools, as well as applications in the field of AI and automated learning.

“By joining Solytic, we are strengthening our digital competence, creating the best conditions for additional optimisation of our renewable generation portfolio and looking forward to further successful digital solutions from our new partner,” said Steag's market and technology director Ralf Schiele.

Details about the acquired equity stake and the price of the deal were not disclosed.

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