SkyX Solar
SkyX Solar is a Vietnam-based rooftop solar developer founded in 2019 that funds, builds, and operates C&I solar systems under 15-25 year PPAs for Vietnamese manufacturers and exporters, backed by VinaCapital and EDF Renewables.
- Company typePrivate
- Founded2019
- HeadquartersHo Chi Minh City, Vietnam
- Headcount11–50
- GTM typeB2B
- OfferingServices
What SkyX Solar does
SkyX Solar Joint Stock Company is a Ho Chi Minh City-based rooftop solar developer founded in 2019 by VinaCapital to serve commercial and industrial (C&I) customers in Vietnam. The company offers end-to-end Solar-as-a-Service solutions, funding, designing, licensing, constructing, and operating rooftop photovoltaic systems under long-term Power Purchase Agreements (PPAs) of 15-25 years, with customers paying only for electricity at rates below the national utility (EVN). The company also operates an ESCO (Energy Service Company) model that recovers capital through shared energy savings, a Direct Power Purchase Agreement (DPPA) offering, Battery Energy Storage Systems (BESS), and Renewable Energy Certificates (RECs).
Its underlying technology stack includes world-class tier 1 PV components, a centralized remote monitoring center, and an Asset Management Platform featuring an AI Data Engine for performance monitoring, predictive analytics, and preventive maintenance, paired with a Green Dashboard that gives clients real-time visibility into energy output and environmental impact via web and mobile. An EDF-backed insurance program provides USD 5 million per-occurrence third-party liability coverage.
SkyX Solar generates revenue through recurring PPA payments across more than 40 facilities totaling 100+ MWp of capacity across 34 Vietnamese provinces, with marquee customers including Mondelez Kinh Do Vietnam, Minh Phu Group, An Phat, Chung Jye Vietnam (New Balance OEM), H&L Apparel (Nike/Adidas/Reebok supplier), Meizic Steel, Hoiana Resort, and Tan A Dai Thanh Group. Since October 2021, EDF Renewables (13.8 GW installed capacity globally) has been a strategic shareholder alongside VinaCapital, and the company has committed to deploy over USD 100 million to develop 200 MWp of additional capacity targeting the C&I segment.
SkyX Solar firmographics
Firmographics- Name
- SkyX Solar
- Legal name
- SkyX Solar Joint Stock Company
- Website
- https://skyxsolar.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- SkyX Solar is a Vietnam-based rooftop solar developer founded in 2019 that funds, builds, and operates C&I solar systems under 15-25 year PPAs for Vietnamese manufacturers and exporters, backed by VinaCapital and EDF Renewables.
- Ownership category
- akta.pro rank
SkyX Solar industry classification
Industry- Product category
- Commercial and Industrial Rooftop Solar Services
- NAICS
- Solar Electric Power Generation (221114), Electric Power Generation (22111)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Solar Roofing & Roof-Mounted PV Systems (IMADAFAO)
- akta.pro secondary industries
- Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ), PV Balance of System (BOS) & Electrical Infrastructure (Inverters, Transformers, Cabling, Substations) (EUACAGAC)
Keywords
Where SkyX Solar is headquartered
LocationHeadquarters
- HQ city
- Ho Chi Minh City
- HQ country
- Vietnam
- HQ region
- Asia
Offices2 records
Markets served
SkyX Solar business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Supply Chain, Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales
Revenue model
- Solar-as-a-Service (SaaS) / Power Purchase Agreement (PPA): SkyX Solar owns, operates, and maintains rooftop solar systems on client rooftops. Clients purchase electricity generated by the solar system at rates lower than the national utility (EVN), providing immediate cost savings with zero capital expenditure or operational burden for the client. Revenue is generated through long-term PPA contracts (typically 15-25 years) with commercial and industrial customers.
- ESCO (Energy Service Company) Model: SkyX Solar acts as an ESCO provider, covering all technology investment costs and recovering capital through shared energy savings. The customer incurs no initial capital expenditure while SkyX funds the entire project from surveying and design to equipment investment, installation, and ongoing operation.
- Direct Power Purchase Agreement (DPPA): SkyX Solar develops solar energy farms and wind farms in Vietnam to support corporate customers in achieving Net-Zero commitments through PPAs, subject to Vietnamese government regulatory frameworks.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Zero Capex – Zero Opex rooftop solar solution |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels6 records
SkyX Solar product offering
Product offeringCore offering
SkyX Solar funds, designs, builds, owns, and operates rooftop solar PV systems on the facilities of commercial and industrial customers in Vietnam under long-term Power Purchase Agreements (PPAs) and an ESCO model. Customers pay no upfront capital or operating costs and instead purchase electricity generated on-site at rates below the national utility (EVN). The company also provides Direct Power Purchase Agreements (DPPA), Battery Energy Storage Systems (BESS), Renewable Energy Certificates (RECs), and a centralized Asset Management Platform with AI-powered monitoring for the systems it deploys.
Product overview
SkyX Solar is a rooftop solar power developer providing end-to-end solar solutions to commercial and industrial customers in Vietnam. The core offering is the SkyX Solar Rooftop Solar Solutions platform, which encompasses investment, design, licensing, construction, and operation services delivered through multiple service models including Solar-as-a-Service (SaaS), Energy Service Company (ESCO) Model, and Direct Power Purchase Agreements (DPPA). Supporting the core solar installations is an Asset Management Platform with AI-powered monitoring capabilities and a Green Dashboard for real-time performance tracking. Additional offerings include Battery Energy Storage System (BESS) technology and Renewable Energy Certificates (RECs).
Differentiator
Problem solved
Functional benefit
Products and services
- SkyX Solar Rooftop Solar Solutions
Quantifiable outcome
- Every 1 MW (~7,000 sqm of roof space) of SkyX Solar rooftop solar reduces 4,848 tonnes of CO2 emissions per year for customers on an OPEX model
- +4 more outcomes
Companies that use SkyX Solar
Customer profileNamed customers11 records
Segments3 records
Ideal customer profiles3 records
SkyX Solar technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature5 records
SkyX Solar partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- Industrial Park DevelopersminorSkyX Solar has established strategic partnerships with industrial park developers to provide rooftop solar solutions to tenants. Examples include YSL Group (Korea) which is developing Green Park Vinh Phuc industrial park according to green-smart standards. Industrial parks developers are key distribution partners reaching large numbers of C&I customers.
- NGOsminorSkyX Solar has established partnerships with NGOs as part of its sustainability ecosystem, contributing to Vietnam's renewable energy transition goals.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
SkyX Solar competitors and assessment
Company assessmentDirect peers
- Cleantech Solar: Cleantech Solar is a leading C&I rooftop solar PPA provider across Southeast Asia (Singapore, Vietnam, Thailand, India, Cambodia, Malaysia, Indonesia). It directly competes with SkyX Solar in Vietnam's C&I market using the same zero-capex PPA/ESCO model targeting industrial and commercial customers.
- Yellow Door Energy: Yellow Door Energy provides distributed solar and energy efficiency solutions under PPA/ESCO models to C&I customers across the Middle East and Southeast Asia, including Vietnam. It overlaps directly with SkyX's rooftop solar-as-a-service offering for commercial and industrial clients.
- Solek Group: Solek is a Czech-founded solar developer with significant operations in Chile and Latin America, focused on C&I rooftop and utility-scale solar PPAs. It is comparable to SkyX in business model (zero-capex PPA) though it currently operates in different geographies.
- GreenYellow (by Casino Group): GreenYellow is a C&I energy efficiency and rooftop solar PPA provider operating across Southeast Asia, including Vietnam, Thailand, Indonesia, and the Philippines. It directly competes with SkyX for C&I rooftop solar contracts in Vietnam using similar zero-investment PPA models.
- Sunseap (EDP Renewables APAC): Sunseap, now part of EDP Renewables, is one of the largest distributed solar developers in Southeast Asia with a significant C&I rooftop solar PPA portfolio. It serves as a comparable regional player to SkyX, especially in Singapore and Vietnam markets.
Regional players
- Bamboo Capital (BCG Energy): Bamboo Capital Group's BCG Energy subsidiary is one of the largest Vietnamese renewable energy developers, operating solar, wind and rooftop projects domestically. It competes with SkyX for Vietnamese C&I and utility-scale solar opportunities, though with a broader project mix.
- Sao Mai Group (Solar): Sao Mai Group is a Vietnamese conglomerate with a large solar EPC and rooftop solar development arm, including significant MW-scale rooftop installations. It overlaps with SkyX in the Vietnamese C&I rooftop solar segment but is primarily a domestic conglomerate with broader business lines.
Emerging players
- Shizen Energy: Shizen Energy is a Japanese renewable energy IPP active in Japan, Brazil, and Southeast Asia. It develops C&I and utility solar projects under PPA structures and is comparable to SkyX's distributed solar model, though broader in geography and technology scope.
- Energi Viken / Scatec (Vietnam context): Scatec is a Norwegian renewable energy IPP with growing presence in Southeast Asia, including emerging exposure to Vietnam's distributed solar market. It is a comparable international solar developer with capital strength similar to EDF Renewables' backing of SkyX.
Broad incumbents
- Vena Energy: Vena Energy is one of the largest renewable energy IPPs in Asia-Pacific, with utility-scale solar and wind across multiple Asian markets including Vietnam. It is a broader incumbent competitor to SkyX, primarily focused on utility-scale projects but with adjacent C&I exposure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
SkyX Solar social profiles
Digital presenceSkyX Solar financial estimates
Financial estimateRevenue estimate
Valuation estimate
SkyX Solar leadership team
Management profileNumber of profiles
Profiles1 record
SkyX Solar funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SkyX Solar M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SkyX Solar
What does SkyX Solar do?
SkyX Solar funds, designs, builds, owns, and operates rooftop solar PV systems on the facilities of commercial and industrial customers in Vietnam under long-term Power Purchase Agreements (PPAs) and an ESCO model. Customers pay no upfront capital or operating costs and instead purchase electricity generated on-site at rates below the national utility (EVN). The company also provides Direct Power Purchase Agreements (DPPA), Battery Energy Storage Systems (BESS), Renewable Energy Certificates (RECs), and a centralized Asset Management Platform with AI-powered monitoring for the systems it deploys.
Is SkyX Solar a public or private company?
SkyX Solar is a private company. It is classified as venture growth investor backed and is currently operating.
When was SkyX Solar founded?
SkyX Solar was founded in 2019. It employs 11 to 50 people.
Where is SkyX Solar based?
SkyX Solar is headquartered in Ho Chi Minh City, Vietnam, in the Asia region.
How does SkyX Solar make money?
Three revenue lines are on record. Solar-as-a-Service (SaaS) / Power Purchase Agreement (PPA) is the primary driver. The others are ESCO (Energy Service Company) Model and direct Power Purchase Agreement (DPPA).
Who are SkyX Solar's main competitors?
Direct peers on record are Cleantech Solar, Yellow Door Energy, Solek Group, GreenYellow (by Casino Group) and Sunseap (EDP Renewables APAC). Regional players are Bamboo Capital (BCG Energy) and Sao Mai Group (Solar). Emerging players are Shizen Energy and Energi Viken / Scatec (Vietnam context). Vena Energy is listed as a broad incumbent.
Does SkyX Solar have an API?
No public API is recorded for SkyX Solar.
What industry is SkyX Solar in?
SkyX Solar's product category is Commercial and Industrial Rooftop Solar Services. Its primary akta.pro industry code is IMADAFAO, Solar Roofing & Roof-Mounted PV Systems, with a secondary code of EUAMABAB, Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System). Its NAICS code is 221114 and its SIC code is 4991.