S-Energy
S-Energy is a KOSDAQ-listed South Korean solar PV module manufacturer and project developer serving government, public sector, and large enterprise customers with modules, BIPV products, EPC services, and O&M across domestic and international markets.
- Company typePublic
- Founded2000
- HeadquartersSeongnam, South Korea
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What S-Energy does
S-Energy (에스에너지) is a KOSDAQ-listed South Korean solar energy company founded in 2001 and headquartered in Seoul, with manufacturing operations in Daejeon. The company manufactures photovoltaic (PV) modules and operates an integrated solar project business covering development, EPC (engineering, procurement, and construction), and O&M (operations and maintenance) services. Its product portfolio spans standard PV modules, low-carbon certified modules, KS-certified import modules, high-durability/eco-friendly modules (SE Series, up to 21.5% efficiency), and Building Integrated Photovoltaic (BIPV) modules (SL Series, up to 23.12% efficiency, 500-640W) — the latter being the company's flagship differentiated product, first commercialized in Korea at the Cheongwadae Presidential Office in 2005 and certified under KS C 8577 and IEC 61215 standards.
S-Energy generates revenue through three streams: (1) module sales (standard, low-carbon, KS-certified, high-durability, and BIPV modules) sold through direct B2B sales; (2) project development and EPC services for utility-scale and commercial solar power plants, covering feasibility studies through construction with in-house engineering, finance, and legal teams; and (3) recurring O&M services including system verification, real-time monitoring, performance guarantee, and plant remodeling. The customer base is concentrated in the Korean government and public sector (Cheongwadae, Seoul Metropolitan Government, Korea Western Power, Incheon International Airport, National Science Museum) and large enterprises (Samsung SDI, FKI building), with a smaller but active international project presence in Japan, Chile, the USA, Germany, Belgium, China, Mongolia, Yemen, and Papua New Guinea.
The company is part of the S-Group ecosystem, which includes wholly-owned subsidiaries S-Power (solar power generation), S-Fuelcell (fuel cell technology), and S-Mobility (EV charging infrastructure). Cumulative project capacity stands at 859MW (611MW domestic and 248MW overseas across completed and in-progress projects). For 2025, the company reported consolidated revenue of 102,439 million KRW and a net loss of -28,693 million KRW, reflecting a multi-year revenue decline from 206,725 million KRW in 2021.
S-Energy firmographics
Firmographics- Name
- S-Energy
- Legal name
- S-ENERGY CO., LTD.
- Website
- https://s-energy.com
- Company type
- Public
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- S-Energy is a KOSDAQ-listed South Korean solar PV module manufacturer and project developer serving government, public sector, and large enterprise customers with modules, BIPV products, EPC services, and O&M across domestic and international markets.
- Ownership category
- akta.pro rank
S-Energy industry classification
Industry- Product category
- Solar PV Modules
- NAICS
- Solar Electric Power Generation (221114), Electrical Equipment Manufacturing (33531)
- SIC
- Electronic & Other Electrical Equipment (No Computer Equip) (3600), Water, Sewer, Pipeline, Comm & Power Line Construction (1623)
- akta.pro primary industry
- Solar PV Module Manufacturing (Cells, Modules, Thin-Film) (EUAMABAD)
- akta.pro secondary industries
- Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Solar Roofing & Roof-Mounted PV Systems (IMADAFAO)
Keywords
Where S-Energy is headquartered
LocationHeadquarters
- HQ city
- Seongnam
- HQ country
- South Korea
- HQ region
- Asia
Offices2 records
Markets served
S-Energy business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Solar Module Sales: Sale of PV modules including standard modules, low-carbon modules, KS-certified modules, high-durability modules, and BIPV modules. Revenue from product sales to domestic and international customers.
- Project Development & EPC Services: End-to-end solar power plant project services including development, engineering, procurement, construction (EPC), and operations & maintenance (O&M). Revenue from project fees and construction contracts.
- O&M Services: Operations and maintenance services for completed solar power plants including system verification, real-time monitoring, performance guarantee, troubleshooting, and plant remodeling.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Standard PV modules |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
S-Energy product offering
Product offeringCore offering
S-Energy manufactures photovoltaic (PV) modules, including building-integrated PV (BIPV) modules, and delivers solar project services covering engineering, procurement, and construction (EPC) and operations and maintenance (O&M). Its customers include utilities, commercial enterprises, government entities, and project developers seeking turnkey solar hardware and deployment services.
Product overview
S-Energy is a solar energy solutions provider offering a comprehensive portfolio of photovoltaic products and services. The product lineup centers on multiple PV module types: standard PV modules, low-carbon certified modules, KS-certified import modules, high-durability eco-friendly modules (SE Series), and BIPV (Building Integrated Photovoltaic) modules (SL Series). These are complemented by a full-service project business covering development, EPC, and O&M. S-Energy positions itself as Korea's first solar module manufacturer, providing both product sales and integrated project solutions for domestic and international solar power installations.
Differentiator
Problem solved
Functional benefit
Products and services
- Photovoltaic (PV) Modules
Quantifiable outcome
- Total project capacity: 859MW (611MW domestic + 248MW overseas)
- +3 more outcomes
Companies that use S-Energy
Customer profileNamed customers8 records
Segments3 records
Ideal customer profiles1 record
S-Energy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
S-Energy partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- S-PowercoreS-Group affiliate company. S-Power is part of the S-Energy group of companies under the S-Group umbrella, focused on solar power generation business.
- S-FuelcellcoreS-Group affiliate company. Part of the S-Energy group focused on fuel cell technology within the clean energy portfolio.
- S-MobilitycoreS-Group affiliate company. Part of the S-Energy group focused on mobility solutions and electric vehicle charging infrastructure.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
S-Energy competitors and assessment
Company assessmentBroad incumbents
- First Solar: First Solar is a US-based thin-film PV module manufacturer and large-scale solar project developer. While technology differs (CdTe thin-film vs crystalline silicon), it competes in the same utility-scale project market and shares the integrated module-plus-project business model.
- Risen Energy: Risen Energy is a Chinese PV module manufacturer with significant global project development operations, particularly in emerging markets. Its product portfolio (high-efficiency modules including bifacial and BIPV-adjacent products) and EPC capabilities make it a comparable broad-spectrum competitor.
- JinkoSolar: JinkoSolar is one of the world's largest PV module manufacturers by shipment volume, with a globally distributed product range including bifacial and high-efficiency modules. It competes with S-Energy in commodity module segments globally but operates at vastly greater scale.
- JA Solar Technology: JA Solar is a leading global PV module manufacturer with vertically integrated cell and module production. Its broad module portfolio and global distribution overlap directly with S-Energy's product line in commodity and bifacial segments.
- Trina Solar: Trina Solar is a global top-tier PV module manufacturer with strong vertical integration from wafers to systems, plus project development capabilities. Comparable in scope to S-Energy's full module-to-project offering but operating at much higher volume and international reach.
- LONGi Green Energy: LONGi is the world's largest monocrystalline silicon wafer and module producer. As a leading global module incumbent, it competes with S-Energy on efficiency, pricing, and international project supply, with a much broader portfolio and manufacturing scale.
Emerging players
- Shinsung Solar Energy: Shinsung Solar Energy is a Korean mid-sized PV module manufacturer and EPC contractor with similar domestic and select international focus. As a smaller Korean player in module manufacturing and project development, it is comparable to S-Energy in scale and customer base, though with less BIPV specialization.
Direct peers
- Canadian Solar: Canadian Solar is a vertically integrated solar manufacturer and project developer with a global footprint including utility-scale project development and module sales. Its combination of high-volume module manufacturing and project pipeline (CSI Solar) closely mirrors S-Energy's dual module/project business model.
- Hanwha Q Cells: Hanwha Q Cells is one of the largest global PV module manufacturers and a fellow Korean-headquartered company with integrated module manufacturing and large-scale solar EPC operations. Directly comparable product portfolio (mono/bifacial modules) and overlapping government/utility customer base in Korea make it the closest peer.
- Hyundai Energy Solutions: Hyundai Energy Solutions is a Korean PV module manufacturer and EPC provider serving both domestic and international markets. It competes head-to-head with S-Energy in Korean commercial, industrial, and utility-scale solar segments, with a similar module-plus-project business model.
Market position
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
S-Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
S-Energy leadership team
Management profileNumber of profiles
S-Energy subsidiaries and ownership
Company hierarchySubsidiaries3 records
S-Energy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
S-Energy M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about S-Energy
What does S-Energy do?
S-Energy manufactures photovoltaic (PV) modules, including building-integrated PV (BIPV) modules, and delivers solar project services covering engineering, procurement, and construction (EPC) and operations and maintenance (O&M). Its customers include utilities, commercial enterprises, government entities, and project developers seeking turnkey solar hardware and deployment services.
Is S-Energy a public or private company?
S-Energy is a public company. It is classified as public and is currently operating.
When was S-Energy founded?
S-Energy was founded in 2000. It employs 51 to 100 people.
Where is S-Energy based?
S-Energy is headquartered in Seongnam, South Korea, in the Asia region.
How does S-Energy make money?
Three revenue lines are on record. Solar Module Sales are the primary driver. The others are project Development & EPC Services and O&M Services.
Who are S-Energy's main competitors?
Broad incumbents on record are First Solar, Risen Energy, JinkoSolar, JA Solar Technology, Trina Solar and LONGi Green Energy. Shinsung Solar Energy is listed as an emerging player. Direct peers are Canadian Solar, Hanwha Q Cells and Hyundai Energy Solutions.
Does S-Energy have an API?
No public API is recorded for S-Energy.
What industry is S-Energy in?
S-Energy's product category is Solar PV Modules. Its primary akta.pro industry code is EUAMABAD, Solar PV Module Manufacturing (Cells, Modules, Thin-Film), 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 3600.