Skyworth Boosts PV Expansion in SE Asia to Support Local Energy Shift

April 14 — A leading Chinese consumer electronics company is expanding its solar energy and energy storage operations across Southeast Asia to better fulfill local demand for renewable energy. This move comes as regional energy supply tensions, driven by ongoing conflicts in the Middle East, hasten the area’s shift toward cleaner energy sources.

The company announced that it will be entering Malaysia’s distributed photovoltaic market, revealing plans during a press event on April 10 where it signed agreements with 16 local businesses. These deals aim to offer customers comprehensive rooftop solar and energy storage solutions, covering branding, supply chain management, design, digital integration, operations, and financing support.

This firm had previously announced its entrance into Vietnam’s distributed solar market just a week prior.

With Malaysia aiming to increase its renewable energy share to 70 percent by 2050, there is a strong potential for continued growth in the solar and energy storage sector, according to Wang Chundan, the company’s Asia Pacific general manager, who spoke to a news outlet.

Wang also mentioned that supportive policies from the Malaysian government could enhance return rates for rooftop solar projects and improve the economic feasibility of residential and commercial energy storage initiatives within the country.

Vietnam is considered a key target market for the company, owing to its rapid economic growth, rising electricity consumption, and favorable policy environment. Wang noted that the country is approaching a pivotal phase in solar energy development. Currently, the penetration of rooftop solar in Vietnam stands at around 2.7 percent. To accelerate growth, the company has launched a “national service provider + regional agent” model, signing agreements with over 30 local agents and collaborating with financial institutions, including a major Vietnamese bank.

The company’s Southeast Asia strategy has been in development since last August, as shared by the company’s chairman. The ongoing conflict in the Middle East is prompting many nations to prioritize renewable energy investments — a trend expected to further accelerate regional expansion efforts.

Last year, the solar division became the company’s top revenue contributor and is now slated for a potential spin-off listing on the Hong Kong Stock Exchange. The company’s 2025 financial report states that as of the end of last year, it had developed and commissioned solar power plants with a combined capacity exceeding 29.3 gigawatts.

Experts highlight that Southeast Asian nations often struggle with limited electricity supplies and higher energy costs. The region’s climate conditions are highly suitable for solar installations, and Chinese solar and energy storage firms enjoy significant competitive advantages, presenting substantial cooperation opportunities.

However, successful operation of solar facilities requires a robust, standardized service network and skilled personnel, which involves considerable investment. Additionally, due to underdeveloped power grids in many parts of Southeast Asia, developers frequently need to incorporate energy storage solutions to optimize distributed solar systems. These factors make entering and thriving in the regional market more challenging than in China, suggesting that companies should be prepared for a patient growth process.