Taiwan solar firms tap ASEAN self-generation market to cut electricity costs

Taiwan solar companies focus on rooftop self-generation projects in ASEAN, valuing their practicality and cost efficiency. (Photo: GreenRock)

Taiwanese solar PV companies at Energy Taiwan 2025 expressed optimism about the self-generation market in ASEAN and are actively seeking opportunities for expansion and collaboration. GreenRock Energy (綠岩能源) has connected a 1 MW project to the grid in Thailand, while Hwan Tai Solar (環台光電) has begun construction on a 2 MW facility in Vietnam.

 “This year marks the first year—our starting point for local development in Southeast Asia,” said Eta Tsai, Vice President of GreenRock Energy’s International Development Department.

Taiwan’s solar industry, backed by mature experience in energy storage and module manufacturing, is well-positioned to expand into overseas markets, said Corrine Lin (林嫣容), Chairman and Chief Analyst at Infolink, speaking at the Solar x Energy Storage Innovation and Application Development Forum during Energy Taiwan 2025.

GreenRock Energy eyes Southeast Asia’s solar-storage growth

GreenRock Energy has signed a strategic partnership in Thailand to launch an integrated program combining solar PV, energy storage, and corporate power purchase agreements (CPPAs). The company is investing in local projects while introducing its AI-driven energy management system (EMS). 

One of its projects, a 1 MW solar-plus-storage system, has already been connected to the grid. Building on existing operations in Japan and Australia, GreenRock now sees ASEAN as the next major focus of its international expansion.

This year marks Greenrock’s starting point for local development in Southeast Asia, said Eta Tsai, Vice President of Greenrock Energy’s International Development Department. (Photo: Wendy Lo)

Demand for clean electricity among Southeast Asian energy offtakers is rising rapidly, but grid infrastructure has struggled to keep pace. This has made rooftop self-generation with solar PV an increasingly attractive option, said Daniel Lai, General Manager of GreenRock Energy. 

The company’s regional push initially targets Taiwan-based manufacturers operating in Thailand, offering solar power at prices roughly 30% lower than local utility rates. Through the integration of solar and storage,  GreenRock’s solar solutions enable manufacturers to use electricity more cleanly and efficiently.

“Storage is no longer just solar PV’s sidekick,” said Lin, noting the growing importance of storage in the region. She added that Southeast Asia is an emerging market with huge potential for Taiwanese companies, where the storage boom is now driven by real demand rather than policy incentives.

GreenRock partners with Solarvest in win-win deal

GreenRock Energy has partnered with Malaysia’s largest publicly listed solar company, Solarvest, to jointly develop up to 1 GW of renewable energy projects across both countries and beyond over the next five years. A 70 MW floating solar project is under development and scheduled for completion in 2027.

“GreenRock has deep expertise in Taiwan’s market and a solid presence in Japan. We have strong advantages in the ASEAN region, so working together creates a win-win situation,” said Jack Tan, Vice President of Group Sales and Marketing at Solarvest.

Solarvest’s partnership with Greenrock is a win-win collaboration, said Jack Tan, Vice President of Group Sales and Marketing at Solarvest.
(Photo: Wendy Lo)

Tan noted that Malaysia’s demand for green electricity grew by 4 GW last year. Coupled with supportive government policies and growing demand from data centers, the country’s renewable energy market is expanding rapidly. As of June, Solarvest held roughly 26.7% of the LSS5 EPCC market share, and with the upcoming LSS6 program, the company aims to play a major role once again.

Hwan Tai Solar leverages industrial connections to enter Vietnam

As solar demand surges across ASEAN, Taiwan’s slowing market is prompting companies to look south for new growth, said Yi-fan Chang (張一帆), Assistant Manager at Hwan Tai Solar.

Hwan Tai Solar, a subsidiary of Hwan Tai Cement, has begun construction on a 2 MW rooftop solar facility in Vietnam and signed contracts totaling 10 MW. The 60-year-old parent company is actively expanding into the renewable energy sector. In its initial phase, Hwan Tai Solar is targeting Taiwan-based manufacturers operating in Vietnam, leveraging its long-standing reputation and industry network to position itself as a reliable partner.

Echoing GreenRock’s approach in Thailand, Hwan Tai is focusing on rooftop self-generation projects in Vietnam, where practicality and cost savings are key advantages. Its solar power is offered at prices roughly 20% lower than local utility rates. The company has established a branch in Ho Chi Minh City, reaching an operational scale comparable to its Taiwan headquarters within the first year, and plans to open a second branch in northern Vietnam in the second half of the year.

Hwan Tai Solar, a subsidiary of the 60-year-old Hwan Tai Cement, is now actively expanding into the renewable energy sector. (Photo: Carol Chen)

As showcased at Energy Taiwan 2025, the island’s solar leaders are looking beyond domestic borders, turning ASEAN into the next frontier for Taiwan’s renewable ambitions.