Tona Syntegra Solar Joint Stock Company

What Tona Syntegra Solar Joint Stock Company does

Tona Syntegra Solar Joint Stock Company (TSS) is a Vietnam-headquartered joint venture between Tona Corp, a Vietnamese construction and total-solution provider, and Syntegra Solar AG, a German-Swiss solar PV consulting and project development firm. Formed in 2019 (predecessor Syntegra Solar Vietnam was established in 2016), TSS focuses on rooftop solar PV systems in Vietnam, delivering one-stop-shop solutions spanning Turn-Key EPC, EPC-Finance (system leasing under PPAs), Roof Leasing, Asset Management, Operating and Maintenance, Owner's Engineering, and Project Development. The company has installed approximately 80 MWp of rooftop solar capacity in Vietnam and has been engaged in 650 MWp of solar projects nationally, with a broader footprint of 500+ MWp delivered across Vietnam, the Philippines, and other markets through the Syntegra Solar International network.

TSS monetizes through a mix of one-time EPC contract revenue and recurring streams from PPAs, system leases, roof leases, and managed O&M services. Its customers include factory owners, warehouses, commercial building operators, retail chains (Central Retail Vietnam), and major manufacturers (Bosch Vietnam, SEW-EURODRIVE, SIAM Holdings, WANEK Furniture), as well as large utility-scale engagements (BIM 2 — 250 MWp solar farm in Ninh Thuan, the largest in Southeast Asia). Distribution is direct enterprise field-sales across Vietnam, with three engagement models: outright EPC purchase, system leasing, and roof leasing. ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications were achieved in 2019.

The leadership team blends German-Swiss solar PV depth (Technical Director Mathias G. Kothe, 25+ years in solar, ex-Siemens Solar VP) with Vietnamese industrial construction scale (Deputy CEO Phan Thanh Quy, 20+ years). The company operates from two offices in Binh Thanh District, Ho Chi Minh City, and is currently pursuing expansion into adjacent Southeast Asian markets and into new agricultural verticals (starch processing via Hung Duy Group, shrimp aquaculture via VietShrimp 2025) alongside its core enterprise rooftop solar business.

Name

Tona Syntegra Solar Joint Stock Company

Legal name

Tona Syntegra Solar Joint Stock Company

Website

https://tss-solar.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Tona Syntegra Solar JSC is a Ho Chi Minh City-based joint venture between Tona Corp and Syntegra Solar AG delivering rooftop solar EPC, financing, and O&M in Vietnam. It serves factory, warehouse, and commercial roof owners and investors, with ~80 MWp installed rooftop capacity.

Ownership category

akta.pro rank

Product category

Solar EPC Services

NAICS

Solar Electric Power Generation (221114)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Solar Roofing & Roof-Mounted PV Systems (IMADAFAO)

akta.pro secondary industry

Renewable Energy Asset O&M (Wind, Solar, Hydro, Geothermal) (EUAEAGAB)

Keywords

• Rooftop solar EPC
• Solar project development
• Solar asset management
• Photovoltaic engineering
• Solar O&M services

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Turn-Key EPC Contracts: One-contract, one-bill solution for roof owners and investors covering site survey, system design, equipment procurement, and construction. Revenue recognized upon project completion and handover.
2. EPC-Finance / System Leasing: TSS and financial partners install a solar system on the customer's rooftop and sell/lease power back through a Power Purchase Agreement (PPA) or leasing contract. Customers enjoy lower electricity costs without high initial capital investment. Generates recurring revenue over the contract term.
3. Roof Leasing: TSS installs solar systems on available rooftop space owned by third parties and shares revenue generated at a negotiated rate with the roof owner.
4. Asset Management & O&M Services: Ongoing operation and maintenance services for installed solar assets, including performance guarantees, warranty management, and strategic scheduling to maximize returns.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Tona Syntegra Solar is a joint venture that provides turn-key rooftop solar photovoltaic (PV) solutions covering site survey, system design, equipment procurement, construction (EPC), commissioning, financing arrangements (EPC-Finance/PPA and roof leasing), and ongoing asset management and operation & maintenance. The company combines Swiss-German engineering and project development expertise from Syntegra Solar AG with local Vietnamese construction capabilities from Tona Corp to deliver integrated solar power systems for industrial and commercial roof owners and investors.

Product overview

Tona Syntegra Solar is a joint venture between Tona Corp (Vietnamese EPC contractor) and Syntegra Solar AG (German-Swiss solar consulting firm) offering integrated solar power solutions. The company's portfolio centers on Turn-Key EPC Services as its core offering, supplemented by Asset Management and Operating & Maintenance services for lifecycle support. Financing is enabled through EPC-Finance arrangements, while Roof Leasing expands customer access. The company also provides Owners Engineering for technical oversight and Project Development for new installations. All services are delivered with a focus on rooftop solar systems across Vietnam.

Differentiator

Problem solved

Functional benefit

Products and services

• Turn-Key EPC Services
• EPC-Finance (System Leasing / PPA)
• Roof Leasing
• Owner's Engineering Services
• Asset Management
• Operating and Maintenance (O&M)
• Solar Project Development

Quantifiable outcome

• Reduces electricity costs for 25 years with guaranteed savings as electricity prices in Vietnam rise 5-7% annually
• +4 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Syntegra Solar AGcoreStrategic or Co-development PartnerSyntegra Solar AG is a German-Swiss based company specialized in Solar PV Consulting & Advisory and Project Development, recognized for its Focus and Expertise in Photovoltaic Technologies. It is one of the two joint venture partners (alongside Tona Corp) that formed Tona Syntegra Solar JSC.
• Tona CorpcoreStrategic or Co-development PartnerTona Corp is a Vietnamese leading construction and total solution provider. It is one of the two joint venture partners (alongside Syntegra Solar AG) that formed Tona Syntegra Solar JSC.
• Central Retail VietnamcoreStrategic or Co-development PartnerStrategic MOU signed October 18, 2024, between TSS and Central Retail Vietnam to realize Central Retail's Net Zero vision. Multiple rooftop solar projects have been implemented at go! retail stores across Vietnam under this partnership.
• EurochamminorGTM or Marketing PartnerEuropean Chamber of Commerce in Vietnam (Eurocham) is listed as a partner organization, indicating membership and collaboration with the European business community in Vietnam.
• GIZ (Deutsche Gesellschaft fur Internationale Zusammenarbeit)minorGTM or Marketing PartnerGIZ is listed as a partner organization, implementing development programs in Vietnam. The partnership relates to the develoPPP program for sustainable business development.
• GBA (Green Building Alliance)minorGTM or Marketing PartnerGreen Building Alliance is listed as a partner organization, indicating collaboration on green and sustainable building initiatives in Vietnam.
• SIKICO GroupminorStrategic or Co-development PartnerSIKICO Group partnered with TSS for the launch of a rooftop and solar power system upgrade project at An Loc Shopping Center in Binh Phuoc province in December 2024.
• Hung Duy GroupminorStrategic or Co-development PartnerTSS partnered with Hung Duy Group to pioneer green transition for Vietnam's starch industry through solar energy solutions.

Scale indicators5 records

Recent moves15 records

Expansion highlights5 records

Broad incumbents

• Sungrow: Global leader in solar inverters and a major supplier of turnkey PV solutions including C&I and utility-scale EPC through Sungrow Power subsidiaries in Vietnam and Southeast Asia. Wider product portfolio (inverters, ESS, floating PV) but competes for the same C&I rooftop and utility tenders as TSS.
• ACEN (AC Energy Philippines): Ayala group's listed renewable energy platform with significant utility-scale solar and wind across the Philippines and growing ASEAN footprint. A broader regional incumbent that competes with TSS for project development and EPC partnerships in Vietnam.
• Gulf Energy Development: Thailand's largest private power producer with a growing renewables portfolio including utility-scale solar in Vietnam and the region. A regional incumbent comparable to TSS in targeting Vietnamese industrial and commercial renewable projects.

Others

• LONGi Green Energy: World's largest solar module manufacturer with downstream EPC and project development arms in Vietnam. Not a direct EPC competitor to TSS but an ecosystem participant that supplies panels to TSS and increasingly offers integrated solar solutions in the same customer accounts.

Direct peers

• Vu Phong Solar Group: Leading Vietnamese rooftop and utility-scale solar EPC and developer with full-service EPC, PPA, and O&M offerings. Directly comparable to TSS in customer segment (C&I factories, warehouses) and business model (turn-key EPC plus financing). One of the most prominent Vietnam-based solar EPC competitors.
• Solar BK (Dat Duong Solar): Vietnamese solar EPC and rooftop system installer serving industrial and commercial customers across Vietnam. Closely matches TSS in customer base (factories, warehouses), EPC delivery model, and Vietnamese geographic focus.
• Trung Nam Group: Vietnamese energy and infrastructure group active in utility-scale solar farm development (including Trung Nam Thuan Nam, one of the largest in Vietnam). Operates solar EPC and asset ownership, overlapping with TSS's utility-scale engagement and broader solar value chain.

Emerging players

• Enfinity Global: US/India-headquartered renewable energy developer with growing C&I and utility-scale solar footprint across Asia, including Vietnam. Similar focus on PPA-based C&I solar and distributed generation that overlaps with TSS's EPC-Finance and rooftop model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/tss_epc
• YouTubeyoutube.com/@TonaSyntegraSolarcorp
• Facebookfacebook.com/Tona-Syntegra-Solar-549292122151444
• LinkedInlinkedin.com/company/tona-syntegra-solar

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Tona Syntegra Solar Joint Stock Company