Shinfox Energy Co.

What Shinfox Energy Co. does

Shinfox Energy Co. (森崴能源, TWSE: 6806) is a Taiwan-listed renewable and clean energy services company founded on 2007-04-27 and headquartered in Tucheng, New Taipei City. The company is a subsidiary of the diversified Cheng Uei Group (正崴集團) and operates under a "light, wind, water, gas, big platform" (光、風、水、氣、大平台) strategy that bundles generation (solar, onshore wind, offshore wind, hydropower), clean-fuel supply (LNG import, transport, and storage via 欣鑫天然氣), and grid-/cert-services (green-power trading platform, energy storage, ESCO retrofits, forest carbon rights, and offshore marine engineering) into what it terms an ESG Industry Ecosystem Pool. Underlying technology is principally physical-asset and licensed infrastructure — power-plant construction know-how, regulated licenses (renewable energy sales, LNG import permits), and a project-financed portfolio of operational and in-development assets. Shinfox generates roughly 400 million kWh of green electricity annually (estimated CO2 reduction of approximately 198,000 tonnes), operates via wholly-owned subsidiaries including 富威電力 (Fuwei Power, the T-REC platform), 富崴能源 (solar and offshore wind), 寶崴海事工程 (offshore marine engineering), 世豐電力 (hydropower), and 彰苑/北苑風力發電 (onshore wind), and was listed on the Taiwan Stock Exchange in November 2021.

The business model is multi-stream enterprise B2B. Revenue streams disclosed in the source include: (i) power generation from solar, onshore wind, and hydropower plants under long-term offtake arrangements; (ii) T-REC trading by 富威電力 to large industrial power consumers mandated under Taiwan's 2019 Renewable Energy Development Act (5,000 kW contract-capacity threshold) and to RE100 / net-zero corporate signatories (cumulative transactions of NT$15.5 billion and 3.02 billion kWh, with NVIDIA and Hon Hai as named long-term lessors); (iii) LNG import, transport, and storage supply for industrial customers including Taiwan Yamaha Motor, Dongda Industrial, and Taiwan Sekisui Seikosha; (iv) ESCO energy-saving services and energy storage system deployment; and (v) offshore wind project development and marine engineering services, including the 700 MW 又德風場 under the Zone Development 3-2 tender and the Taiwan Power Phase 2 maritime-construction contract. Pricing is not publicly disclosed; commercial terms are negotiated on a project-by-project basis with industrial customers.

Go-to-market is primarily direct enterprise field sales targeting large industrial and commercial power users, supplemented by the subsidiary channels that act as specialized distribution platforms (notably 富威電力 as the T-REC aggregator and 富崴能源 / 欣鑫天然氣 as the project-execution and LNG-supply channels). Customer concentration centers on a small set of anchor enterprise accounts for T-REC rentals, alongside a broader base of mid-sized industrial LNG customers and a long tail of distributed rooftop/ground-mounted solar project hosts across Taiwan. The company has no disclosed international footprint, restricts operations to Taiwan, and provides only a single primary contact channel ([email protected] / +886 2-2269-9888).

Name

Shinfox Energy Co.

Legal name

森崴能源股份有限公司

Website

https://shinfox.com.tw

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

51–100 employees

Short description

Shinfox Energy Co. (TWSE: 6806) is a Taiwan-listed renewable and clean energy services company operating solar, onshore wind, offshore wind, and hydropower plants alongside an LNG import business and a T-REC trading platform (富威電力), serving large industrial power consumers, RE100 corporates, and renewable-energy project hosts in Taiwan.

Ownership category

akta.pro rank

Product category

Renewable Energy Services

NAICS

Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911), Electric & Other Services Combined (4931)

akta.pro primary industry

Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF)

akta.pro secondary industries

Offshore Wind Power Generation (Floating) (EUACAFAC), Onshore Wind Power Generation (Utility-Scale) (EUACAFAA), Interconnection, Permitting & Grid Services for DERs (EUAMAJAH), Hybrid Renewable Systems & Co-Optimization R&D (Solar+Wind+Storage, Multi-Resource Plants, Controls) (EUAMAOAI), Renewable Energy Infrastructure (FSAAAKAG)

Keywords

• Renewable energy services
• Green power trading
• Solar power generation
• Offshore wind development
• LNG import supply

Headquarters

HQ city

Taipei

HQ country

Taiwan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Renewable Power Generation: Revenue from operating solar, wind (onshore and offshore), and hydropower plants. The company operates multiple solar projects across Taiwan (e.g., Tainan Qigu 77MW, Pingtung 2,485 kWp, etc.) and onshore wind farms (e.g., Changhua Zhangyuan 12.6MW, Changhua Beiwan/Nanwan 14.4MW each). Green electricity generation reaches 400 million kWh per year.
2. Green Power Certificate Trading (T-REC Sales): 富威電力 subsidiary sells renewable energy certificates (T-RECs) to corporate customers including NVIDIA and Hon Hai. Cumulative green power transactions exceed NT$15.5 billion and 3.02 billion kWh. The company purchases RECs and facilitates corporate renewable energy procurement for RE100 goals.
3. LNG Import and Trading: 欣鑫天然氣 subsidiary holds LNG import permits, providing one-stop LNG import, transport and storage services to industrial customers. Serves as a clean energy supply source under the 'ESG Industry Ecosystem Pool'.
4. Energy Services (ESCO) and Energy Storage: Provides energy-saving engineering services, energy storage system deployment, and smart energy management systems through the green power platform, targeting large power consumers under statutory mandates.
5. Offshore Wind Development and Maritime Engineering: Revenue from offshore wind farm development (700MW 又德風場) and maritime engineering services (台電二期離岸風電案), including project development, construction management, and ongoing operations.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Shinfox Energy provides comprehensive renewable and clean energy services in Taiwan, spanning solar, offshore wind, onshore wind, and hydroelectric power generation; LNG import, transport and storage; green power certificate (T-REC) trading; energy storage and ESCO energy-saving services; offshore marine engineering; and forest carbon rights — bundled under an 'ESG Industry Ecosystem Pool' (ESG產業生態池) one-stop platform model.

Product overview

Shinfox Energy Co. (森崴能源) operates as a comprehensive renewable energy and clean energy services provider, organized under a '光、風、水、氣、大平台' (Light, Wind, Water, Gas, Big Platform) business strategy. The company offers integrated one-stop services through multiple subsidiaries: 富崴能源 handles solar and offshore wind power plant investment and operations; 彰苑/北苑風力發電 operates onshore wind farms (14.4 MW each); 世豐電力 manages hydroelectric power plants; 欣鑫天然氣 provides LNG import, transport and storage services with import licenses; and 富威電力 operates the green power trading platform with energy storage systems and ESCO energy-saving services. Additional services include renewable energy certificate (T-REC) trading, forest carbon rights, offshore marine engineering (via 寶崴海事工程), and the flagship ESG Industry Ecosystem platform bundling all these offerings. The company generated approximately 4 billion kWh of green electricity annually with carbon reduction of 198,000 tonnes.

Differentiator

Problem solved

Functional benefit

Products and services

• Solar Power Plant Development & O&M Comprehensive solar power plant construction, installation, and operations & maintenance services across Taiwan. Multiple projects include ground-mounted (e.g., Tainan Qigu 77MW), rooftop, and floating solar installations. Targeted at landowners, factories, and institutions seeking to monetize underutilized space or generate renewable energy for self-consumption.
• Offshore Wind Development (Yude Wind Farm / 又德風場) Offshore wind farm development project with 700MW capacity, participated in Zone 3-2 offshore wind block development bidding in 2024, marking Shinfox Energy's entry as an offshore wind developer extending the 'Taiwan Team'.
• Onshore Wind Power Generation Onshore wind power generation from Changhua County wind farms including Changhua Zhangyuan (14.4 MW, completed Aug 2025) and Changhua Beiwan/Nanwan (14.4 MW each).
• Hydroelectric Power Generation Hydroelectric power generation operated through subsidiary Shifeng Power (世豐電力).
• LNG Import & Trading Liquefied natural gas (LNG) import, transportation, storage and trading services operated by subsidiary Xinxin Natural Gas (欣鑫天然氣), which holds LNG import permits. Provides one-stop integrated LNG services to industrial customers transitioning from coal/oil to cleaner fuels.
• Green Power Certificate (T-REC) Trading Renewable energy certificate (T-REC) trading and sales platform operated by subsidiary Fuwei Power (富威電力), which holds renewable energy sales license. Facilitates aggregated green power sourcing for corporate customers including NVIDIA and Hon Hai as long-term T-REC lessees for RE100 commitments and statutory compliance.
• Energy Storage Systems & ESCO Energy-Saving Services Energy storage system deployment, smart energy management systems, and ESCO (Energy Service Company) energy-saving retrofit services operated by subsidiary Fuwei Power (富威電力). Targets large power consumers for statutory compliance and cost optimization.
• Offshore Marine Engineering Services Offshore marine engineering services for offshore wind farm construction and maintenance, operated by subsidiary Baowei Marine Engineering (寶崴海事工程). Includes project development, construction management, and ongoing operations for Taiwan Power Phase 2 and other offshore wind projects.
• Forest Carbon Rights

Quantifiable outcome

• Annual green power generation of 400 million kWh, reducing approximately 198,000 tonnes of CO2e (equivalent to planting 16.5 million trees or 509 Daan Forest Parks per year)
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• National Central University (中央大學) — Sustainability AcademycoreStrategic or Co-development Partner · 1 January 2024Signed MOU in 2024 to jointly advance offshore wind engineering technology and cultivate sustainability talent, deepening industry-academia collaboration in Taiwan's renewable energy sector.
• 又德風場 (Youde Wind Farm)coreOthersSubsidiary project company for offshore wind zone development 3-2, with 700MW capacity. Shinfox Energy participates as an offshore wind developer, extending the 'Taiwan Team' in offshore wind development.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Clearway Energy: US yieldco that owns and operates contracted renewable generation (wind, solar) and provides energy to corporate customers. Closely comparable to Shinfox's contracted renewable generation plus green power trading combination.
• Pattern Energy: Pure-play renewable energy developer and operator focused on wind and solar with corporate renewable supply. Comparable scale and integrated platform model to Shinfox, including PPAs with large enterprise customers.
• EDP Renováveis: Pure-play renewable energy developer and operator with global wind and solar portfolio and corporate renewable supply services. Directly comparable business model to Shinfox's multi-technology renewable generation and green power supply.

Broad incumbents

• RWE: German integrated utility with major renewable energy (offshore/onshore wind, solar) and flexible generation portfolio. Comparable multi-technology renewable platform serving corporate customers and energy markets.
• NextEra Energy: Largest renewable energy utility in the US with significant wind and solar generation capacity, plus an energy trading subsidiary (NextEra Energy Resources). Comparable integrated renewable platform model spanning generation and energy marketing/trading.
• Engie: Global integrated energy company with significant renewable energy generation (wind, solar, hydro) and LNG distribution businesses. Comparable to Shinfox's combination of renewable generation and clean fuel (LNG) distribution under one platform.
• Vattenfall: European state-owned integrated energy company with substantial offshore wind development and corporate renewable supply. Highly comparable to Shinfox's offshore wind + integrated clean energy platform strategy, though operating in European markets.
• Ørsted: Global offshore wind leader and integrated renewable energy developer. Highly comparable to Shinfox's offshore wind development ambitions (Yude Wind Farm at 700MW) and integrated renewable platform model, though at much larger scale and with international geographic diversification.
• Iberdrola: Global integrated utility with major renewable energy generation (onshore/offshore wind, solar) and green energy supply businesses. Comparable to Shinfox's multi-technology renewable platform and corporate green power supply model, with global scale advantage.
• Taipower (Taiwan Power Company): Taiwan's state-owned vertically integrated utility and the off-taker for Shinfox's Phase 2 offshore wind project. Operates generation, transmission, and distribution across the island and is simultaneously the largest renewable energy owner in Taiwan. Comparable as Taiwan's anchor power market participant, though vastly larger and broader in scope.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries10 records

Funding overview

Funding rounds

Investors

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 Shinfox Energy Co.