SPCG

Solar Energy Generation and Rooftop Installationspcg.co.th

SPCG Public Company Limited is a Thai-listed holding company that develops and operates utility-scale solar farms (260 MW in Thailand plus projects in Japan) and rooftop solar installations for residential, commercial, and industrial customers through 42 subsidiaries.

Company typePublic
Founded2011
HeadquartersWatthana, Thailand
Headcount101–250
GTM typeB2B
OfferingServices

What SPCG does

SPCG Public Company Limited is a Thai-listed holding company (SET: SPCG) operating across the solar energy value chain. Founded in 2011, the company holds majority stakes in 42 subsidiaries with a registered capital of 1,055,790,000 shares and a workforce of 101–250 employees. SPCG has invested in and developed 36 solar farms in Thailand with a combined capacity of 260 MW, plus a 30 MW solar farm in Japan (Tottori Yonago Mega Solar) and the 480 MW Ukujima Mega Solar Project in Japan. Through its subsidiary Solar Power Roof Co., Ltd. (SPR), SPCG provides end-to-end design and installation services for residential, commercial, and industrial rooftop solar systems, while Solar Power Engineering Co., Ltd. (SPE) operates as the Authorized Sales Agent of SMA Solar Technology AG (Germany). Its i-REC program projects approximately 370,000 International Renewable Energy Certificates annually from the 260 MW Thai portfolio, providing an additional monetizable asset stream.

SPCG firmographics

Firmographics

Name: SPCG
Legal name: SPCG Public Company Limited
Website: https://spcg.co.th
Company type: Public
Founded year: 2011
Operating status: Operating
Headcount range: 101–250 employees
Short description: SPCG Public Company Limited is a Thai-listed holding company that develops and operates utility-scale solar farms (260 MW in Thailand plus projects in Japan) and rooftop solar installations for residential, commercial, and industrial customers through 42 subsidiaries.
Ownership category
akta.pro rank

SPCG industry classification

Industry

Product category: Solar Energy Generation and Rooftop Installation
NAICS: Solar Electric Power Generation (221114)
SIC: Cogeneration Services & Small Power Producers (4991)
akta.pro primary industry: Utility-Scale PV EPC (Engineering, Procurement & Construction) (EUACAGAB)
akta.pro secondary industries: Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), PV Balance of System (BOS) & Electrical Infrastructure (Inverters, Transformers, Cabling, Substations) (EUACAGAC)

Keywords

Solar farm development
Solar rooftop installation
Renewable energy certificates
Solar power generation
Utility-scale solar

Where SPCG is headquartered

Location

Headquarters

HQ city: Watthana
HQ country: Thailand
HQ region: Asia

Offices3 records

Markets served

SPCG business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Others

Revenue model

Solar Farm Operations: Revenue generated from 36 solar farms in Thailand (260 MW) and solar farms in Japan. SPCG is a holding company with majority shares in 42 companies.
Solar Rooftop Solutions: Design and installation of solar roof systems through subsidiary Solar Power Roof Co., Ltd. (SPR) for Residential, Commercial and Industrial customers.
i-REC Sales: Sale of International Renewable Energy Certificates (i-RECs) from 260 MW of solar farms, projected at approximately 370,000 RECs annually.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels1 record

SPCG product offering

Product offering

Core offering

SPCG Public Company Limited is a holding company that develops and operates utility-scale solar farms and provides solar rooftop installation services. It has invested in and developed 36 solar farms in Thailand with a total capacity of 260 MW, alongside international projects in Japan (Tottori Yonago Mega Solar at 30 MW and the Ukujima Mega Solar Project at 480 MW under construction). Through its subsidiary Solar Power Roof Co., Ltd. (SPR), SPCG offers full-service design and installation of solar rooftop systems for residential, commercial, and industrial customers.

Product overview

SPCG Public Company Limited is Thailand's first pioneer and leading developer in solar farm development (260 MW across 36 farms) and solar rooftop solutions (150 MW). The company operates as a holding company with majority shares in 42 subsidiaries. Its product portfolio includes core solar farm development and rooftop installation services (via Solar Power Roof Co., Ltd. - SPR), authorized sales representation for SMA solar technology (via Solar Power Engineering Co., Ltd. - SPE), and International Renewable Energy Certificate (i-REC) generation. SPCG also develops solar projects in Japan including the Tottori Yonago Mega Solar (30 MW) and the Ukujima Mega Solar Project (480 MW).

Differentiator

Problem solved

Functional benefit

Brands

i-REC: International Renewable Energy Certificate program generating approximately 370,000 RECs annually from 260 MW solar farms in Thailand

Products and services

SPCG Solar Farm Development Utility-scale solar farm development and operation consisting of 36 solar farms in Thailand (260 MW), a 30 MW solar farm in Japan (Tottori Yonago Mega Solar), and the 480 MW Ukujima Mega Solar Project under construction. Designed for utility operators, energy sector participants, and renewable energy investors.
Solar Rooftop Solutions (Solar Power Roof Co., Ltd. - SPR) Full-service design and installation of solar rooftop systems by an experienced installation team, provided to residential homeowners, commercial establishments, and industrial facilities through subsidiary Solar Power Roof Co., Ltd. (SPR).
International Renewable Energy Certificate (i-REC) Sale of International Renewable Energy Certificates (i-RECs) generated from SPCG's 260 MW of solar farms in Thailand, projected at approximately 370,000 RECs annually, for organizations needing carbon offsets and renewable energy documentation.
Solar Power Engineering Co., Ltd. (SPE) - SMA Authorized Sales Agent Wholly-owned subsidiary operating as the Authorized Sales Agent of SMA Solar Technology AG (Germany), representing and distributing SMA's solar technology and inverter products in Thailand and the region.

Quantifiable outcome

260 MW solar farm capacity in Thailand
+5 more outcomes

Companies that use SPCG

Customer profile

Named customers2 records

Segments4 records

Ideal customer profiles4 records

SPCG technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature5 records

SPCG partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

SMA Solar Technology AGcoreTechnology or IntegrationSolar Power Engineering Co., Ltd. (SPE) operates as the Authorized Sales Agent of SMA Solar Technology AG (Germany), providing access to SMA's solar technology products and solutions.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

SPCG competitors and assessment

Company assessment

Broad incumbents

First Solar, Inc. First Solar is a global utility-scale solar developer and module manufacturer; comparable to SPCG on utility-scale PV development and project ownership at scale.
B.Grimm Power Public Company Limited: B.Grimm Power is one of Thailand's largest IPPs with a diversified gas and renewables portfolio; it competes with SPCG in Thai power generation and increasingly in utility-scale solar.
EGCO Group Public Company Limited: EGCO Group is a Thai-listed IPP with diversified power generation including renewables across Asia; comparable to SPCG as a regional power generator pursuing solar growth.
Gulf Energy Development Public Company Limited: Gulf Energy is a large Thai IPP that has been expanding into renewables; it competes with SPCG for utility-scale solar opportunities and corporate power-purchase agreements in Thailand.

Direct peers

Gunkul Engineering Public Company Limited: Gunkul is a Thai solar EPC contractor and renewable IPP that overlaps with SPCG across utility-scale solar development and rooftop/inverter distribution in Thailand.
Energy Absolute Public Company Limited: Energy Absolute is a major Thai renewable energy developer and operator with utility-scale solar farms, batteries and EV businesses, competing with SPCG in Thai utility-scale solar development.
BCPG Public Company Limited: BCPG is a Thai-listed renewable energy IPP with utility-scale solar and wind assets across Thailand and the region, making it the closest direct comparable to SPCG's utility-scale solar farm business.
Voltalia SA: Voltalia is a French renewable IPP active in solar, wind and hydro across multiple geographies; its mix of utility-scale development, generation and services mirrors SPCG's diversified model.
Scatec ASA: Scatec is a Norway-based solar IPP that develops, owns and operates utility-scale solar plants in emerging markets, directly comparable to SPCG's solar farm ownership and PPA model.

Emerging players

Sunrise Energy Co., Ltd. Sunrise Energy is a Thai solar rooftop and EPC installer that competes with SPCG's SPR subsidiary in the residential and C&I rooftop segments in Thailand.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

SPCG financial estimates

Financial estimate

Revenue estimate

Valuation estimate

SPCG leadership team

Management profile

Number of profiles

Profiles3 records

SPCG subsidiaries and ownership

Company hierarchy

Subsidiaries2 records

SPCG funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

SPCG M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about SPCG

What does SPCG do?

Is SPCG a public or private company?

SPCG is a public company. It is classified as public and is currently operating.

When was SPCG founded?

SPCG was founded in 2011. It employs 101 to 250 people.

Where is SPCG based?

SPCG is headquartered in Watthana, Thailand, in the Asia region.

How does SPCG make money?

Three revenue lines are on record. Solar Farm Operations are the primary driver. The others are solar Rooftop Solutions and i-REC Sales.

Who are SPCG's main competitors?

Broad incumbents on record are First Solar, Inc., B.Grimm Power Public Company Limited, EGCO Group Public Company Limited and Gulf Energy Development Public Company Limited. Direct peers are Gunkul Engineering Public Company Limited, Energy Absolute Public Company Limited, BCPG Public Company Limited, Voltalia SA and Scatec ASA. Sunrise Energy Co., Ltd. is listed as an emerging player.

Does SPCG have an API?

No public API is recorded for SPCG.

What industry is SPCG in?

SPCG's product category is Solar Energy Generation and Rooftop Installation. Its primary akta.pro industry code is EUACAGAB, Utility-Scale PV EPC (Engineering, Procurement & Construction), 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.