Green Rock Energy Lists on Emerging Stock Board May 22; Revenue Doubles Year-on-Year with Major Projects and Overseas Expansion Driving Long-Term Growth
Green Rock Energy (7833) has received approval from the Taipei Exchange to be listed on the Emerging Stock Board starting May 22, with a subscription price of NT$90 per share. In 2024, the company recorded consolidated revenue of NT$1.15 billion, more than doubling the NT$580 million achieved in 2023—representing an impressive year-over-year growth rate of 98.3%. These results highlight Green Rock’s strong growth momentum and significant development potential. If progress continues as planned, the company aims to apply for listing on the main board by 2026.
Founded in 2019 with a paid-in capital of NT$430 million, Green Rock Energy operates across three major business segments: Energy Development, Energy Engineering, and Energy Services. The company offers one-stop renewable energy solutions, including site development, EPC services, operations and maintenance, energy storage and EV charging infrastructure, and green electricity trading. Built on its core values of professionalism, innovative technology, pragmatism, and efficiency, Green Rock has rapidly established a competitive edge in Taiwan’s renewable energy sector by integrating technical expertise with operational excellence.
The company’s core team brings over a decade of solar industry experience and has developed or planned more than 500 MW of renewable energy projects. Its proven engineering and development capabilities have earned industry-wide recognition, leading to contracts with well-known local and international partners such as Lightsource bp (a subsidiary of BP), German investment funds, and subsidiaries of Chailease Holding. These projects—ranging from joint transformer substations to agrivoltaic systems—are scheduled for implementation between 2025 and 2027 and are expected to drive future revenue growth.
Internationally, Green Rock is strategically expanding across East Asia. It has successfully connected two solar power plants to the grid in Japan and secured a national-level floating solar project in Malaysia with a total installed capacity of 70 MW. This project is in partnership with Servex, Acer’s local subsidiary, and Chailease Energy. Looking ahead, Green Rock plans to deepen its presence in Vietnam, Thailand, and other ASEAN markets by collaborating with Taiwanese businesses and key local associations. With increasing green energy demand driven by the relocation of Taiwanese electronics manufacturers to Southeast Asia, Green Rock aims to leverage favorable policies and industry networks to promote regional energy collaboration and strengthen its global footprint. Overseas operations are expected to become a key pillar of the company’s mid- to long-term growth strategy.
Beyond development and engineering, Green Rock is actively expanding into energy application services. By operating and managing its own sites, the company is positioned to generate long-term, stable returns for over 20 years through services such as asset management, O&M, aquaculture operations, green power trading, and energy services. It is also implementing smart data analytics and remote monitoring systems to enhance operational efficiency and build an intelligent energy service platform. Moving forward, Green Rock aims to integrate solar power, energy storage, and smart management systems to support corporate sustainability goals and smart community energy independence, thereby creating high-value energy asset management services.
Currently, the company’s self-owned pipeline has surpassed 50 MW in planned capacity. By leveraging Corporate Power Purchase Agreements (CPPAs) instead of traditional feed-in tariff models, Green Rock secures more favorable electricity pricing, enhances investment returns, and locks in profits through long-term contracts—further increasing project value and operational performance.
Looking ahead, Green Rock Energy remains committed to deepening its domestic presence while pursuing strategic overseas collaborations. The company will continue to promote the integration of solar, storage, and smart energy applications, and build a high-value renewable energy service ecosystem. With its listing on the Emerging Stock Board and plans for a future main board IPO, Green Rock aspires to become a dynamic new entrant in the capital market and to create sustainable, long-term value for its stakeholders.
