GreenergyDaily

May. 22, 2026

PCG Power, a Chinese commercial and industrial renewable energy developer, is planning a Hong Kong IPO that could be filed as early as August, according to Reuters. The company is reportedly seeking a valuation of $2.5 billion to $3 billion.

Proceeds from the listing are expected to fund expansion in solar power, energy storage, power trading and overseas markets.

Founded in 2022, PCG Power invests in, builds and operates commercial ‌and ⁠industrial distributed photovoltaic and clean energy power stations. The company has around 2 GW of grid-connected capacity across more than 20 Chinese provinces and has expanded into Saudi Arabia, Oman, Japan, Singapore, Indonesia and New Zealand.

Backers include Temasek, Aramco Ventures, Eurazeo, GLP Partners and NIO Capital.

PCG Power recently launched a power-trading joint venture with Octopus Energy. The venture plans to deploy Octopus's AI-driven Kraken platform in Guangdong and aims to reach annual trading volumes of 140 TWh by 2030.