Tigo Energy announced the acquisition of FSIGHT, an energy data analytics software company based in Hod HaSharon, Israel. With FSIGHT, Tigo expands its ability to use energy consumption and production data for solar energy producers. The transaction was signed on Nov. 29, 2022.
The two companies will structure the new operation to expand their combined offerings to make the deployment of accurate, scalable, and flexible predictive analytics even more convenient for its customers.
“The acquisition of FSIGHT strengthens our leadership position in MLPE by adding both a new layer of sophisticated energy data tools and the opportunity to expand our data services business in solar,” said Zvi Alon, chairman and CEO at Tigo Energy, Inc. “With FSIGHT, AI and machine learning technology forecasts electricity consumption and generation of individual endpoints or aggregated portfolios, which we believe benefits stakeholders all along the solar value chain.”
FSIGHT is a software-as-a-service (SaaS) company that gives utilities, independent power providers (IPPs), solar assets owners, engineering, procurement and construction firms (EPCs) and investors visibility into performance of solar energy systems as well as predictive data.
The prediction engine and analytics are especially useful for Tigo. FSIGHT enables accurate behind-the-meter energy insights that scale quickly for DER projects of all sizes. For smart-meter utilities, this means more accurate forecasting for load, generation, and pricing dynamics, as well as portfolio composition and the ability to automate customer clustering.
“Our mission has been to facilitate the energy transition by using data to reinvent business models for a greener energy market of the future, and Tigo’s global footprint allows us to significantly accelerate these ends,” said Evgeny Finkel, CEO of FSIGHT. “Through the support of Tigo and its vast installed base, we will be able to provide even more accurate predictions about customers’ energy systems. I am delighted to join the Tigo team and bring the best of both companies to our customers.”
Finkel and the FSIGHT team will join the Tigo team at the Ra’anana, Israel, office. FSIGHT’s customer support organization will operate without interruption as the company integrates into the Tigo operation over the coming weeks and months.
— Solar Builder magazine