Stem Powers Grid Optimization at Major California Solar Project

PowerTrack^TM Power Plant Controller Solutions Enable Maximum Value Capture for 57 MW Camino Solar Project in Kern County

HOUSTON--(BUSINESS WIRE)-- Stem (NYSE: STEM), a global leader in AI-enabled clean energy software and services, today announced the successful deployment of its advanced energy system at the Camino Solar project in Kern County, California, developed by Avangrid, a leading energy company and member of the Iberdrola group. Stem’s expert engineering services and software platform enabled grid integration and operational excellence for this milestone renewable energy facility, delivering optimized clean energy to approximately 14,000 homes.

The comprehensive scope of work included project management, design, procurement, configuration, testing and commissioning of the PowerTrack^TM Power Plant Controller (PPC) and data acquisition system. Notably, Stem’s PPC implementation meets the stringent IEEE 2800 standard, as dictated by the California Independent System Operator (CAISO) for interconnection with Southern California Edison's transmission system – effectively engineering the 57-megawatt (MW) project to the standard of a 300 MW facility.

The IEEE 2800 standard provides uniform technical minimum requirements for the interconnection, capability and performance of inverter-based resources. As the standard was approved by the IEEE Standards Association in 2022, many PPC systems have not yet been designed to meet this requirement and its enforcement by grid operators is relatively new.

The project features Stem's sophisticated data acquisition system capable of monitoring close to 8,000 real-time data points, enabling critical CAISO telemetry requirements for grid operations and market participation.

“The Camino Solar project exemplifies how Stem's platform transforms renewable energy assets into dynamic grid resources,” said Matt Tappin, President of Software Products at Stem. “This project, in particular, showcases the transformative potential of combining renewable generation with intelligent energy solutions. The IEEE 2800 standard represents a critical evolution in how inverter-based resources interconnect with the transmission system. Our engineering capabilities ensure our clients meet these demanding technical requirements while maximizing operational performance. We welcome the opportunity to continue collaborating with forward-thinking developers like Avangrid who recognize that today's energy projects must be designed to capture value across multiple dimensions – economic, environmental, and grid reliability.”

The Camino Solar project, Stem’s third project with Avangrid, demonstrates Stem's collaborative approach to renewable energy development, working closely with leading developers to deliver integrated solutions that maximize project value. The project's economic benefits extend beyond energy production, with the facility expected to generate approximately $15 million in state and local tax revenue over its lifetime. During construction, the project supported approximately 100 local jobs, largely filled by local union labor, demonstrating the broader economic impact of energy infrastructure development.

“Building strong partnerships is critical to Avangrid’s successful execution of projects, and working with Stem has been important throughout the development and construction of Camino Solar,” said Avangrid CEO Jose Antonio Miranda. “The successful completion of this project marks another important milestone in Avangrid’s commitment to delivering energy solutions that meet America’s growing electricity needs.”

As inverter-based resources like solar power plants become increasingly prevalent on the electric grid, standards like IEEE 2800 are essential for maintaining system reliability and stability. The successful PowerTrack^TM PPC deployment at Camino Solar adds to Stem's growing portfolio of projects, reinforcing the company's position as a leading provider of intelligent energy solutions for the renewable energy industry.

Learn more about Stem energy solutions at stem.com.

About Stem

Stem (NYSE: STEM) is a global leader in AI-enabled software and services that enable its customers to plan, deploy, and operate clean energy assets. The Company offers a complete set of solutions that transform how solar and energy storage projects are developed, built, and operated, including an integrated suite of software and edge products, and full lifecycle services from a team of leading experts. More than 16,000 global customers rely on Stem to maximize the value of their clean energy projects and portfolios. Learn more at stem.com.

About Avangrid

About Avangrid: Avangrid, Inc. is a leading energy company in the United States working to meet the growing demand for energy for homes and businesses across the nation through service, innovation, and continued investments by expanding grid infrastructure and energy generation projects. Avangrid has offices in Connecticut, New York, Massachusetts, Maine, and Oregon, including operations in 23 states with approximately $48 billion in assets, and has two primary lines of business: networks and power. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.4 million customers in New York and New England. Through its power generation business, Avangrid owns and operates more than 75 energy generation facilities across the United States producing 10.5 GW of power for over 3.1 million customers. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies – a ranking of America’s best corporate citizens – in 2025 for the fifth consecutive year. The company was named among the World’s Most Ethical Companies in 2025 for the seventh consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit http://www.avangrid.com.

Forward-Looking Statements

This press release, as well as other statements we make, contains “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “predict,” “plan,” “potential,” “projected,” “projections,” “forecast,” “estimate,” “intend,” “anticipate,” “ambition,” “goal,” “target,” “think,” “should,” “could,” “would,” “will,” “hope,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about our financial and operating performance guidance, outlook, targets and other forecasts or expectations regarding, or dependent on, our business outlook and strategy and expectations around our new software and services-centric strategy; our expectations regarding future estimates of variable consideration in connection with guarantees of certain customer contracts, and the resulting effects on revenue and net income; our ability to secure sufficient and timely inventory from suppliers; our ability to meet contracted customer demand; our ability to manage manufacturing or delivery delays; our ability to manage our supply chains and distribution channels; our joint ventures, partnerships and other alliances; forecasts or expectations regarding energy transition and global climate change; reduction of greenhouse gas (“GHG”) emissions; the integration and optimization of energy resources; our business strategies and those of our customers; our ability to retain or upgrade current customers, further penetrate existing markets or expand into new markets; the effects of natural disasters and other events beyond our control; the direct or indirect effects on our business of macroeconomic factors and geopolitical instability, such as the armed conflicts between Russia and Ukraine and in the Gaza Strip and nearby areas; the expected benefits of the Inflation Reduction Act of 2022 on our business; and our future results of operations, including revenue, adjusted EBITDA and the other metrics presented under Outlook. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including but not limited to our inability to execute on, and achieve the expected benefits from, our operational and strategic initiatives; our inability to successfully execute on our new software and services-centric strategy; our inability to secure sufficient and timely inventory from our suppliers, as well as contracted quantities of equipment; our inability to meet contracted customer demand; supply chain interruptions and manufacturing or delivery delays; disruptions in sales, production, service or other business activities; general macroeconomic and business conditions in key regions of the world, including inflationary pressures, general economic slowdown or a recession, rising interest rates, changes in monetary policy, and instability in financial institutions; the direct and indirect effects of widespread health emergencies on our workforce, operations, financial results and cash flows; uncertainty around the status of the Inflation Reduction Act of 2022 as a result of the change in U.S. Administration; geopolitical instability, such as the armed conflicts between Russia and Ukraine and in the Gaza Strip and nearby areas; the results of operations and financial condition of our customers and suppliers; pricing pressures; severe weather and seasonal factors; our inability to continue to grow and manage our growth effectively; our inability to comply with, and the effect on our business of, evolving legal standards and regulations, including those concerning data protection, consumer privacy, sustainability, and evolving labor standards; risks relating to the development and performance of our energy storage systems and software-enabled services; our inability to retain or upgrade current customers, further penetrate existing markets or expand into new markets; the risk that our business, financial condition and results of operations may be adversely affected by other political, economic, business and competitive factors; and other risks and uncertainties discussed in this release and in our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual results or outcomes, or the timing of these results or outcomes, may vary materially from those reflected in our forward-looking statements. Forward-looking statements and other statements in this release regarding our environmental, social, and other sustainability plans and goals are not an indication that these statements are necessarily material to Stem, investors, or other stakeholders, or required to be disclosed under U.S. securities laws or any other laws or requirements applicable to us. In addition, historical, current, and forward-looking environmental, social, and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Statements in this press release are made as of the date of this release, and Stem disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise, except as required by law.

Source: Stem, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250729572121/en/

For News Media:

Stem Investor Contacts

Erin Reed, Stem

Marc Silverberg, ICR

IR@stem.com

Stem Media Contact

Jessie Smiley, Stem

press@stem.com

Source: Stem, Inc.