Skip to Content Facebook Feature Image

Yude Solar Launches Thailand Operations, Eyes Top-Five Spot in Southeast Asian Solar Market

Business

Yude Solar Launches Thailand Operations, Eyes Top-Five Spot in Southeast Asian Solar Market
Business

Business

Yude Solar Launches Thailand Operations, Eyes Top-Five Spot in Southeast Asian Solar Market

2026-04-24 14:57 Last Updated At:15:15

GoodWe-backed solar firm opens Bangkok office as distributed photovoltaic demand surges across the region

BANGKOK, April 24, 2026 /PRNewswire/ -- Yude Solar officially opened its Thailand operations today at a ceremony in Bangkok, marking the company's formal entry into Southeast Asia and the beginning of what executives describe as a broader global expansion strategy.

Backed by GoodWe Group, a global solar technology conglomerate, Yude Solar positions the Thailand launch not as a simple overseas branch, but as the foundation of a full photovoltaic service ecosystem.

The company plans to partner with local engineering, procurement, and construction (EPC) firms and financial institutions to make rooftop solar accessible to households and businesses across the country.

"Clean energy should not be a luxury — it should be accessible to everyone," Bryan Bao, CEO of Yude Solar, stated at the launch event, Yude Solar's philosophy has guided its operations since founding. In China, Yude Solar has served nearly 100,000 residential and commercial customers, building a track record it now intends to replicate in Southeast Asia.

~100,000

Top 5

1st

customers served in China

target ranking in SE Asia

overseas market: Thailand

Bryan Bao's stated goal is to become one of the five leading distributed photovoltaic providers in Southeast Asia. Distributed solar — where electricity is generated on-site at homes and commercial buildings rather than at centralized power plants — is seen as a critical tool for the region as it grapples with energy security pressures and the need for greater economic resilience.

Thailand serves as the company's regional beachhead. From Bangkok, Yude Solar plans to introduce its mature technology platform, implementation experience, and partner ecosystem to local markets — enabling buildings to generate and consume their own clean electricity.

The launch comes at a moment of strong momentum for solar across Southeast Asia. Traditional energy infrastructure across the region faces growing strain, and governments are increasingly prioritizing affordable, decentralized alternatives. Distributed solar is widely viewed as one of the most practical near-term solutions.

Bryan Bao said it will continue to expand its presence in Thailand and across the broader Southeast Asian region, working with local partners to build what it calls "a clean energy ecosystem for the new era of green development."

GoodWe, established in 2010, is a world-leading PV inverter and energy storage systems manufacturer listed on the Shanghai Stock Exchange (stock code: 688390). The company has more than 6,000 employees across 15 countries and a team of over 1,000 engineers working at its R&D centres to continuously optimize and advance energy storage technology. GoodWe's storage inverters were ranked among the top three globally by Wood Mackenzie in 2022. The company was also recently recognized as a leading power inverter manufacturer by BloombergNEF Tier 1 (Q1 2026).

Yude Solar Technologies, a subsidiary of GoodWe, was established in May 2021 and is a top five rooftop solar developer in China. The company has more than 450 employees and operates in over 20 provinces across the country. It has been recognized as one of China's most influential brands in household solar systems for three consecutive years (2022–2025) and has received the CQC Household Photovoltaic System 2A certification. With a vision to become the preferred value creator in the zero-carbon era, the company began as a residential solar provider and has since developed and commissioned over 3 GW of residential and Commercial & Industrial projects. For more information about Yude Solar Technologies, please visit us at www.yudesolar.com 

 



GoodWe-backed solar firm opens Bangkok office as distributed photovoltaic demand surges across the region

BANGKOK, April 24, 2026 /PRNewswire/ -- Yude Solar officially opened its Thailand operations today at a ceremony in Bangkok, marking the company's formal entry into Southeast Asia and the beginning of what executives describe as a broader global expansion strategy.

Backed by GoodWe Group, a global solar technology conglomerate, Yude Solar positions the Thailand launch not as a simple overseas branch, but as the foundation of a full photovoltaic service ecosystem.

The company plans to partner with local engineering, procurement, and construction (EPC) firms and financial institutions to make rooftop solar accessible to households and businesses across the country.

"Clean energy should not be a luxury — it should be accessible to everyone," Bryan Bao, CEO of Yude Solar, stated at the launch event, Yude Solar's philosophy has guided its operations since founding. In China, Yude Solar has served nearly 100,000 residential and commercial customers, building a track record it now intends to replicate in Southeast Asia.

~100,000

Top 5

1st

customers served in China

target ranking in SE Asia

overseas market: Thailand

Bryan Bao's stated goal is to become one of the five leading distributed photovoltaic providers in Southeast Asia. Distributed solar — where electricity is generated on-site at homes and commercial buildings rather than at centralized power plants — is seen as a critical tool for the region as it grapples with energy security pressures and the need for greater economic resilience.

Thailand serves as the company's regional beachhead. From Bangkok, Yude Solar plans to introduce its mature technology platform, implementation experience, and partner ecosystem to local markets — enabling buildings to generate and consume their own clean electricity.

The launch comes at a moment of strong momentum for solar across Southeast Asia. Traditional energy infrastructure across the region faces growing strain, and governments are increasingly prioritizing affordable, decentralized alternatives. Distributed solar is widely viewed as one of the most practical near-term solutions.

Bryan Bao said it will continue to expand its presence in Thailand and across the broader Southeast Asian region, working with local partners to build what it calls "a clean energy ecosystem for the new era of green development."

GoodWe, established in 2010, is a world-leading PV inverter and energy storage systems manufacturer listed on the Shanghai Stock Exchange (stock code: 688390). The company has more than 6,000 employees across 15 countries and a team of over 1,000 engineers working at its R&D centres to continuously optimize and advance energy storage technology. GoodWe's storage inverters were ranked among the top three globally by Wood Mackenzie in 2022. The company was also recently recognized as a leading power inverter manufacturer by BloombergNEF Tier 1 (Q1 2026).

Yude Solar Technologies, a subsidiary of GoodWe, was established in May 2021 and is a top five rooftop solar developer in China. The company has more than 450 employees and operates in over 20 provinces across the country. It has been recognized as one of China's most influential brands in household solar systems for three consecutive years (2022–2025) and has received the CQC Household Photovoltaic System 2A certification. With a vision to become the preferred value creator in the zero-carbon era, the company began as a residential solar provider and has since developed and commissioned over 3 GW of residential and Commercial & Industrial projects. For more information about Yude Solar Technologies, please visit us at www.yudesolar.com 

 

** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **

Yude Solar Launches Thailand Operations, Eyes Top-Five Spot in Southeast Asian Solar Market

Yude Solar Launches Thailand Operations, Eyes Top-Five Spot in Southeast Asian Solar Market

Province adds three unicorns, expands high-growth pipeline
Hangzhou accounts for 83% as new entrants and startups scale up

HANGZHOU, China, April 24, 2026 /PRNewswire/ -- Zhejiang's roster of unicorn companies has expanded to 58 as of April 2026, highlighting the province's growing role as a hub for emerging technologies and industrial upgrading.

The latest rankings, released at the 10th All Blossom Conference in Hangzhou on April 23, show companies spread across seven cities, including Hangzhou, Ningbo, Jiaxing, Jinhua, Shaoxing, Taizhou and Wenzhou.

While Hangzhou, Ningbo and Jiaxing remain the top three hubs, the broader distribution points to a more geographically balanced innovation landscape. The province's unicorn count rose by three from a year earlier.

Hangzhou continues to dominate the landscape, home to 48 of Zhejiang's unicorns, up from 44 last year—when it already accounted for roughly four out of every five such startups.

The annual rankings also include tiered lists of "future unicorns," valued between $100 million and $1 billion, and early-stage "seed unicorns" worth $10 million to $100 million.

Together, they map a full pipeline of high-growth companies across sectors such as artificial intelligence, embodied intelligence, life sciences, new energy, semiconductors, advanced manufacturing and aerospace, and have become a key barometer of Zhejiang's startup ecosystem.

Among the top 100 future unicorns, integrated circuits lead with 22 companies, followed by artificial intelligence and life sciences with 19 each. Advanced manufacturing accounts for 16 firms, new energy and materials 15, and next-generation information technology nine.

In the seed unicorn category, new energy and life sciences each count 22 companies, ahead of advanced manufacturing with 19, while AI, next-generation IT and semiconductors each have 11 firms, and aerospace-related companies total four.

Against that provincial backdrop, Hangzhou remains the clear center of gravity—continuing to generate both the largest share of unicorns and the deepest pipeline of emerging startups.

The city added eight companies to its unicorn ranks on April 23, bringing the total to 48, according to the same conference ranking.

The new entrants—Hailiang Technology Services, Geener Microelectronics, Spirit AI, Geespace, Sunrise, Seepin, DEEP Robotics and Simplexity Robotics—span sectors from semiconductors and robotics to commercial aerospace.

As of April, Hangzhou accounted for 83% of Zhejiang's unicorns, up from 80% a year earlier, underscoring its outsized role in the province's innovation economy.

The conference also released a list of 413 quasi-unicorns—companies typically valued between $100 million and $1 billion—including 50 new additions.

Several firms, such as Diagens Biotechnology, Manycore Tech, Mirxes, Promisemed, Saint Bella, Tide Pharmaceutical, Tongshifu and ISV, exited the list after scaling into unicorn status or completing initial public offerings.

Quasi-unicorns are concentrated in sectors aligned with Hangzhou's broader "296X" industrial strategy. Life sciences lead with 118 firms, followed by next-generation information technology with 78 and AI and embodied intelligence with 50—together accounting for about 60% of the total.

The "296X" is an industrial cluster blueprint the city introduced in October 2025 in an effort to speed up the integration of technological and industrial innovation.

More than half of both unicorns and quasi-unicorns—255 companies—are classified as nationally recognized "specialized and refined" enterprises, including 20 unicorns and 235 quasi-unicorns, reflecting a structured pipeline of high-growth firms.

Since 2018, Hangzhou's unicorn count has risen from 26 to 48, while quasi-unicorns have expanded from 105 to 413, underscoring sustained growth in its innovation-driven economy.

** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **

Zhejiang unicorn ranks grow to 58 as Hangzhou tightens lead, top ranking shows

Zhejiang unicorn ranks grow to 58 as Hangzhou tightens lead, top ranking shows

Recommended Articles