PCG Power

What PCG Power does

PCG Power (碧澄能源) is a Hangzhou-headquartered next-generation power system investment management and operation service provider, founded in June 2022 and operating as a global leader in C&I (commercial and industrial) distributed clean energy power station investment and operation. The company invests in, develops, constructs, and operates distributed solar PV, user-side energy storage, and integrated energy solutions for large industrial and commercial enterprises across 31 Chinese provinces and 100+ cities, with international operations through PCG Global spanning 10+ overseas markets including New Zealand, Indonesia, Saudi Arabia, Oman, Singapore, and Japan. PCG serves 300+ enterprise customers including Siemens, Midea, Geely, Opple, Shuanghui Foods, Youran Dairy, Marelli, and Tederic, providing turnkey rooftop solar, energy storage with peak-shaving/load-balancing, virtual power plant aggregation, AI-powered green electricity trading, and carbon asset management under long-term (typically 25-year) project contracts.

The company's core technology platform combines a digital-intelligent operation management system (covering distributed PV, storage, EV charging, and industrial load aggregation) with a proprietary multimodal large language model for energy decision-making, Transformer-based load forecasting (solar prediction accuracy exceeding 95%), and DeepSeek-integrated light-storage collaborative optimization (the BiYu platform, JV with Jiangxing Intelligence). The Bitong Energy JV with Octopus Energy brings AI-driven spot-market electricity trading to China's liberalizing power markets, while the BiQing virtual power plant aggregates distributed resources for grid participation. A seven-brand ecosystem (BiXi, BiYu, BiQing, BiTong, BiDian, BiQuan, PCG Carbon Institute) layers digital carbon management, smart IoT, VPP operation, green power trading, EPC, and smart O&M on top of the core asset base.

PCG's business model is asset-investment-plus-management rather than SaaS. Revenue is generated through (1) electricity sales to C&I customers under long-term PPAs with 70-90% self-consumption rates, (2) energy storage peak-shaving services (4-5 year payback), (3) AI-driven renewable energy trading via the Bitong Energy JV targeting 140 TWh annually by 2030, (4) carbon asset management fees, and (5) asset management fees via LOK Capital (JV with GLP Capital Partners) operating development, acquisition, and yield-type fund strategies with securitization through China's first inter-institutional distributed clean energy REITs (launched December 2025). Pricing is project-specific and quote-based; bank credit lines of CNY 15 billion plus a CNY 1 billion new energy M&A fund and USD 700M+ international fund underpin the capital-intensive model. The company is preparing a Hong Kong IPO filing targeted for August 2026 at a $2.5-3 billion valuation.

Name

PCG Power

Legal name

杭州碧澄能源发展有限公司

Website

https://pcgpower.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

PCG Power (碧澄能源) is a Hangzhou-headquartered developer, investor, and operator of distributed solar PV, energy storage, and virtual power plant assets for industrial and commercial enterprises across China and 10+ overseas markets, serving 300+ clients with AI-powered energy management and trading.

Ownership category

akta.pro rank

Product category

Distributed Renewable Energy Services

NAICS

Solar Electric Power Generation (221114), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Renewable Energy Infrastructure (FSAAAKAG), Utility-Scale VPPs & Grid Services Aggregation (Capacity, Frequency, Reserves) (EUAFAHAD), Retail Supply + DER/Virtual Power Plant Bundles (Solar, Storage, DR) (EUAGABAI), Real Assets — Energy & Power Infrastructure (Renewables, Conventional, Storage) (FSAHAIAD)

Keywords

• Distributed solar investment
• Energy storage services
• Virtual power plant aggregation
• Green power trading
• Carbon asset management

Headquarters

HQ city

Guangzhou

HQ country

China

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Distributed Solar PV Investment and Operation: PCG Power invests in, develops, and operates distributed solar PV power stations for C&I customers on a 'self-generation for self-consumption, excess power to grid' model. Revenue comes from electricity sales to customers, with typical 25-year operational contracts. Projects achieve 70-90% self-consumption rates.
2. Energy Storage Services: User-side energy storage systems providing peak-shaving and load-balancing services to C&I customers, utilizing two-charge-two-discharge strategies. Revenue from electricity cost savings and demand charge reduction, with investment recovery in 4-5 years.
3. Renewable Energy Trading (Bitong Energy JV): AI-driven electricity trading in China's spot power markets through the Bitong Energy joint venture with Octopus Energy, targeting 140 TWh of renewable power trade annually by 2030, with projected annual profits of £50 million.
4. Carbon Asset Management: Carbon factor database and carbon asset management services through PCG Carbon Institute, supporting corporate carbon trading and green certificate issuance.
5. Asset Management via LOK Capital: LOK Capital (洛能资本), a joint venture with GLP Capital, manages renewable energy asset investment funds with development-type, acquisition-type, and yield-type fund strategies, enabling asset securitization and exit through REITs and other instruments.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

PCG Power invests in, develops, and operates distributed solar PV power stations, user-side energy storage systems, and integrated energy management solutions for industrial and commercial enterprise customers in China. The company delivers turnkey energy services from project investment and construction through long-term operation, energy trading, carbon asset management, and asset securitization via REITs, supported by proprietary digital-intelligent operation management and AI-driven trading platforms.

Product overview

PCG Power (碧澄能源) is an industry-leading next-generation power system investment management and operation service provider and a global leader in C&I distributed clean energy power station investment and operation. The company operates a platform-plus-modules architecture organized around its core 数智化运营管理平台 (Digital-Intelligent Operation Management Platform), which is augmented by specialized subsidiary modules: BiXi (digital carbon management), BiYu Technology (smart IoT for power systems), BiQing Intelligence (virtual power plant aggregation), BiTong Green Power/Bitong Energy (C&I green power trading, including the Octopus Energy JV for AI-driven electricity trading), BiDian Engineering (EPC services), and BiQuan Smart O&M (intelligent operations and maintenance). The LOK Capital platform handles asset management and securitization. The 光储协同运营管理平台 (Photovoltaic-Storage Collaborative Operations Management Platform), developed via the BiYu Energy JV with Jiangxing Intelligence, integrates photovoltaic-storage coordination, AI prediction, virtual power plant, and carbon asset management capabilities. Together these modules provide enterprises, industrial parks, and cities with economical, intelligent, and reliable green energy one-stop solutions covering investment, construction, operation, power trading, and carbon asset management.

Differentiator

Problem solved

Functional benefit

Brands

• 碧曦 (BiXi) — Digital Carbon: Digital energy-carbon management platform under PCG Power's ecosystem.
• 碧澄碳科院 (PCG Carbon Institute)
• 碧屿科技 (BiYu Technology)
• 碧擎智慧 (BiQing Intelligence)
• 碧桐绿电 (BiTong Green Power)
• 碧电工程 (BiDian Engineering)
• 碧全智维 (BiQuan Smart O&M)
• 碧汇涓滴绿能，澄启千顷光程

Products and services

• Distributed Solar PV Investment and Operation Turnkey distributed rooftop solar PV power station investment, development, construction, and operation services for industrial and commercial enterprise customers in China under a 'self-generation for self-consumption, excess power to grid' model with typical 25-year operational contracts and 70-90% self-consumption rates.
• User-Side Energy Storage Services User-side energy storage systems providing peak-shaving (two-charge-two-discharge strategy) and load-balancing services to industrial and commercial customers, with revenue from electricity cost savings and demand charge reduction and a 4-5 year investment payback period.
• Virtual Power Plant (VPP) Aggregation Services (BiQing Intelligence) Virtual power plant aggregation and operation services that integrate distributed PV, user-side storage, EV charging, building air conditioning, and industrial loads, enabling grid participation through demand response and ancillary services.
• Carbon Asset Management Services (BiXi Digital Carbon / PCG Carbon Institute) Carbon asset management and digital energy-carbon management services, including carbon factor database development (PCG Carbon Institute), corporate carbon trading, green certificate and CCER issuance, and energy-carbon data monitoring via the BiXi platform.
• C&I Green Power Trading (Bitong Energy JV) AI-driven renewable electricity trading in China's spot power markets through the Bitong Energy 50:50 joint venture with Octopus Energy (UK), combining Octopus Energy's trading software and algorithmic expertise with PCG Power's local C&I market expertise.
• Renewable Energy Asset Management (LOK Capital) Distributed green energy asset management platform offering development-type, acquisition-type, and yield-type fund strategies to institutional investors (insurance, trust, securities companies, family offices), enabling PCG Power's asset-light investment model and asset securitization via REITs.
• Smart Operations & Maintenance for New Energy Assets (BiQuan Smart O&M) AI-powered smart O&M services for distributed new energy assets, providing automated fault detection, predictive maintenance, real-time monitoring, and AI cleaning/inspection robotics for unmanned intelligent operations of distributed PV and storage assets.
• New Energy EPC Services (BiDian Engineering) Engineering, procurement, and construction (EPC) services for distributed solar PV and energy storage projects, including development, construction, and grid integration for C&I and utility-scale projects.

Quantifiable outcome

• 70-90% green electricity self-consumption rates achieved for C&I customers through energy management systems
• +6 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Octopus EnergycoreStrategic or Co-development Partner · 30 January 202650:50 joint venture named Bitong Energy (碧桐能源) to trade renewable electricity in China's spot power markets, combining Octopus Energy's trading technology with PCG Power's local C&I market expertise. Operations launch first in Guangdong province with target of 140 TWh renewable power traded annually by 2030, generating ~£50M annual profits and £500M+ valuation within 5 years. Deal announced during UK PM Keir Starmer's China visit.
• Xiangyu Shares (象屿股份)minorStrategic or Co-development Partner · 12 August 2025Trilateral strategic cooperation with 象屿股份 and 洛能资本 for equity investment, domestic and overseas new energy infrastructure investment, supply chain cooperation, and industrial finance, leveraging 象屿's commodity supply chain services expertise and global network.
• Dreamhome GroupcoreStrategic or Co-development Partner · 18 June 2025Joint venture PCG Oceania established with Dreamhome Group for New Zealand market entry. PCG Global and PCG Oceania combine PCG Power's C&I distributed PV expertise with Dreamhome's local real estate and development capabilities, targeting distributed and utility-scale solar projects in New Zealand.
• China Fortune Land Development (华夏幸福)coreStrategic or Co-development Partner · 2 April 2025Trilateral strategic cooperation with 华夏幸福 and 小麦新能 to create 'investment attraction + park development + new energy' asset development model. Focus on industrial park scenarios in Beijing-Tianjin-Hebei, Greater Bay Area, and Yangtze River Delta. First JV project: 5.4MW distributed PV at Zhengding Yiran Biology.
• Jiangxing Intelligence (江行智能)coreTechnology or Integration · 1 March 2025Joint venture established 成都碧屿能源科技有限公司 with Jiangxing Intelligence to develop AI-powered light-storage collaborative operation management platform. The platform integrates photovoltaic generation, energy storage, and demand-side management with Transformer-based AI algorithms for intelligent energy optimization. PCG Power contributes industry expertise, Jiangxing contributes AI and edge computing technology.
• FAS Energy (沙特FAS能源)coreStrategic or Co-development Partner · 17 May 2024Strategic partnership with Saudi Arabia's FAS Holding subsidiary for solar PV investment in China and internationally. Signed joint venture agreement to invest hundreds of millions of USD in China PV market, targeting GW-level PV station development. PCG Power and FAS jointly signed strategic cooperation agreements with Hangzhou Qiantang District and Xi'an Economic Development Zone.
• Nanhui New Energy (纳晖新能源)minorStrategic or Co-development Partner · 5 March 2024Trilateral strategic cooperation agreement with Nanhui New Energy (Haier subsidiary) and Center Corp for green low-carbon park construction and BIPV rooftop integration, promoting green park transformation through photovoltaic-building integration solutions.
• Centrus Corp (森特股份)minorStrategic or Co-development Partner · 5 March 2024Trilateral strategic cooperation with Nanhui and Center for BIPV photovoltaic rooftop integration, leveraging Center's 20+ years of metal roofing engineering experience and隆基-Center dual-brand BIPV strategy.
• GLP Capital Partners (普洛斯资本)coreStrategic or Co-development Partner · 4 September 2023Jointly established LOK Capital (洛能资本) as a distributed green energy investment platform. GLP Capital serves as fund manager while PCG Power builds and operates underlying assets. LOK Capital's first development fund targets CNY 30B (Phase I CNY 20B) with total investment scale of CNY 100B, investing in distributed PV and storage assets.
• Xpeng Motors (小鹏汽车)minorOthersPCG Power invested in Xpeng Motors (蔚来资本 is a shareholder, and Xpeng Motors and PCG Power have commercial project relationships, e.g., PV projects at Xpeng facilities).
• GAC (广汽)minorOthersGAC included in PCG Power's virtual power plant resource pool for EV charging and exchange station integration in Shanghai VPP demonstration project.
• Geely (吉利汽车)minorOthersGeely partnered with PCG Power for VPP and energy storage projects, including swap station integration as part of Shanghai VPP demonstration. PCG Power has developed multiple PV projects for Geely facilities.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• JinkoSolar: Global tier-1 solar module manufacturer with distributed generation and storage offerings that overlap with PCG Power's C&I customer base in China and selected international markets.
• Trina Solar: Global top-tier solar module manufacturer with growing C&I distributed PV project development and storage businesses, competing with PCG Power both as a module supplier (e.g., LONGi-like role) and increasingly as a downstream developer.
• LONGi Green Energy: World-leading solar module manufacturer that is expanding into downstream distributed PV solutions and is also a Series B investor in PCG Power; represents both a supplier and a potential broader competitor in C&I distributed energy.
• First Solar: Large global solar developer with utility-scale and distributed generation projects; relevant as a broader incumbent competing for international C&I and utility-scale distributed projects PCG Global targets in the Middle East and Southeast Asia.

Direct peers

• Cleantech Solar: Asia-Pacific focused C&I distributed solar PV developer and long-term owner-operator, similar to PCG Power's self-generation-for-self-consumption model serving enterprise customers with multi-MW rooftop projects across Southeast Asia and India. Highly comparable operating model and customer profile.
• Sungrow Power Supply: China-based leading inverter and energy storage system supplier that increasingly offers integrated distributed PV + storage + digital energy solutions for C&I customers, directly overlapping with PCG Power's BiDian EPC and BiQing VPP offerings.
• Envision Energy: Chinese renewable energy and smart energy management platform combining wind/PV/storage with AI-based energy OS, overlapping directly with PCG Power's digital-intelligent platform, multimodal LLM, and VPP ambitions.
• CHINT Group (Astronergy): Major Chinese electrical equipment manufacturer that also develops distributed PV projects and storage solutions for C&I customers through its Astronergy solar subsidiary, directly competing for the same enterprise rooftop project pipeline in China.
• Risen Energy: Chinese solar module and project developer active in C&I distributed PV and storage, providing directly comparable turnkey EPC and operations services in the same China market.

Regional players

• Tata Power Solar Systems: India's leading distributed solar EPC and rooftop PV developer serving enterprise and government customers, operating in a comparable C&I distributed solar model but primarily within India rather than directly competing in PCG Power's core China market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pcg-power-technology-co-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds5 records

Investors26 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PCG Power