PCG Power

PCG Power Technology Co., Ltd. is an investment management and operation service provider for new energy power systems, focusing on commercial and industrial (C&I) distributed clean-energy power stations. Founded in June 2022, PCG Power was incubated by Poly Capital and Country Garden Venture Capital. The company's Chairman and CEO is Li Wenxuan, who previously served as Deputy General Manager of Poly Capital. The core management team also includes former Jinko Power Technology CEO Jin Rui, who joined as CEO in December 2022 to build the new energy business team, and Pang Bo as General Manager, responsible for strategic resource projects and government relations.

PCG Power's business encompasses the investment, development, and operation of photovoltaic (PV), wind power, and energy storage projects. It provides a comprehensive suite of services including new energy EPC, smart operations and maintenance, green power trading, and a digital energy-carbon management platform. The company's business model for its PV projects often involves a "self-generation for self-consumption, with excess power fed into the grid" approach, helping clients like Midea reduce costs and enhance energy stability. Revenue is generated through providing campus and community energy management services. By mid-2025, the company had developed over 1GW of power station assets and served more than 300 enterprises, including Siemens and Midea.

The company has conducted multiple financing rounds, raising a total of CNY 1.5 billion as of December 2023. Investors include notable firms such as Temasek, GLP Capital Partners, NIO Capital, Eastern Bell Capital, and Aramco Ventures. This funding has supported the development of its project pipeline and expansion into energy storage and technology platforms. In June 2025, the company rebranded from PCG Power Technology Co., Ltd. to PCG Power Development Co., Ltd. and relocated its headquarters to Hangzhou.

In addition to its strong presence across China with six major operation centers, PCG Power is actively expanding internationally through its global platform, PCG Global. This entity, initiated in 2025 with anchor investment from Temasek, targets markets in the Middle East, Southeast Asia, and Oceania under a "Solar Triangle Strategy". As of mid-2025, PCG Global had secured a 1.8GW international project pipeline, including a joint venture in New Zealand called PCG Oceania. In January 2026, PCG Power also entered a joint venture with UK-based Octopus Energy to form Bitong Energy, which will focus on green energy trading in China's spot power markets.

Keywords: new energy project development, distributed photovoltaic, C&I solar, energy storage solutions, smart energy management, renewable energy investment, photovoltaic power stations, EPC services, green power trading, carbon management, virtual power plant, clean technology, asset operation, electricity trading, solar farms, user-side energy storage, EV charging stations, energy IoT, PCG Global, Bitong Energy