Stem to hybridize solar plants in Hungary with battery storage

Stem, Inc. has entered a five-year agreement with Solarmarkt Group and engineering partner Pannonwatt Energetikai Megoldások Zrt. to hybridize two utility-scale solar plants in Hungary. Using Stem’s PowerTrack Energy Management System (EMS), the project will add 40 MW / 80 MWh of battery energy storage to existing 60 MWp solar facilities in Szihalom and Hódmezővásárhely. The integrated solution aims to manage solar generation, storage, grid interconnection, and market dispatch through a single platform, with commercial operation expected by September 2026.

In its second-quarter earnings report, Stem highlighted a shift toward higher-margin software and edge-hardware revenue. While total revenue decreased 12% year-over-year to $34 million—largely due to a drop in battery hardware resale revenue—non-GAAP gross margin reached a record 55%. The company reported its fifth consecutive period of positive adjusted EBITDA, driven by its software-centric transformation and increased deployments of energy management systems internationally.