​MILLBRAE, Calif. /TORONTO, Ont. – Stem, Inc., and Ontario Power Generation (OPG) are launching a new partnership on advanced energy storage systems that will assist Ontario industrial manufacturers in managing electricity costs. In bringing together one of the most experienced energy providers in Ontario, OPG, and the most advanced energy storage systems and controls platform, Stem, the partnership will provide Ontario businesses with innovative, turnkey energy solutions to enhance their competitiveness.
"OPG’s selection of Stem to bring customer-sited energy storage to Ontario is a substantial endorsement of Stem’s proven performance and customer satisfaction in a highly-competitive market,” said John Carrington, CEO of Stem, Inc. “Ontario is looking to AI-driven energy storage to build multiple returns for the customer and grid reliability, and local market leaders like OPG have turned to substantial storage project development experience in Stem."
Stem has the largest project finance pool among its peers, now over US$650 million—including C$200 million in project finance from Ontario Teachers’ Pension Plan specifically for the Ontario market.
OPG generates safe, clean, reliable, low-cost power for Ontario. More than 99 per cent of this power is free of smog and carbon emissions. OPG’s electricity is priced an average of 40 per cent lower than other generators, which helps moderate customer bills.