In a major move to boost Southeast Asia’s clean energy transition, SKYWORTH PV — the renewable energy division of China’s SKYWORTH Group — announced a $500 million investment initiative in Bangkok on Friday. The signing ceremony, held at the Four Seasons Hotel, marked a dual strategic milestone: a financial partnership with Olympus Capital and a green banking alliance with ICBC (Thai) Bank.
The announcement coincided with the 50th anniversary of China-Thailand diplomatic relations, underscoring Thailand’s emerging role as a regional anchor in ASEAN’s renewable energy landscape.
SKYWORTH PV’s $500 million clean energy fund, launched in collaboration with Olympus Capital, is expected to significantly expand the company’s regional footprint. Complementing this, the alliance with ICBC (Thai) aims to advance cross-border green financing and foster solar adoption in Thailand’s commercial and industrial sectors.
“This partnership merges China’s technological expertise with Thailand’s net-zero ambitions,” said Mr. Xiaobo Li, CEO of ICBC (Thai) Bank and Honorary Chairman of the Chinese Enterprises Association in Thailand. “Together, we aim to build a carbon-neutral banking ecosystem.”
SKYWORTH PV’s collaboration with ICBC will leverage the bank’s nationwide branch network and SKYWORTH’s global experience in clean energy deployment, with the goal of scaling distributed solar solutions and introducing financial products tailored to the region’s clean energy needs.
Speaking at the event, Ms. Wanfei Qu — CIO of SKYWORTH Group and CEO of SKYWORTH PV — emphasized Thailand’s central role in the company’s Southeast Asian expansion strategy. “Thailand is ASEAN’s solar heartbeat, and we are combining integrated technologies and local partnerships to accelerate a just energy transition,” she told local broadcasters including TNN, CH5, Amarin TV, and NBT.
Founded in 2020, SKYWORTH PV has grown rapidly, amassing a cumulative installed solar capacity of 25 GW globally and building over 750,000 solar power stations to date.
Ms. Qu outlined the company’s vertically integrated offerings — from solar modules and inverters to energy storage systems and EPC services — and announced SKYWORTH PV’s target of reaching THB 10 billion in revenue within the next three years. “Our strategy combines technological innovation, local investment, and green financing solutions tailored to Southeast Asia’s needs,” she said.
In his opening address, Mr. Lin Jin, Chairman of SKYWORTH Group, highlighted the company’s transformation from a traditional electronics firm to a clean energy pioneer. “Trust built over 37 years powers our innovation in ASEAN,” he noted, referencing the group’s nearly ¥70 billion (approx. THB 350 billion) in annual revenue.
The event brought together over 160 dignitaries, including officials from government bodies, industry associations, financial institutions, and clean energy enterprises from across Southeast Asia — reflecting growing regional alignment around renewable energy goals.
The evening concluded with a fireworks display over the Chao Phraya River, symbolizing SKYWORTH’s commitment to anchoring its green energy future in Thailand. The twin partnerships and SKYWORTH PV’s solar roadmap mark a significant pivot point in ASEAN’s energy story — driven by Chinese innovation, Thai cooperation, and multinational capital.
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