Billion Electric Co., Ltd., Updated: 2026/01/06

Billion Electric Co., Ltd. (TSE:3027, “Billion”) held its 2025 fourth-quarter investor conference on December 24. Billion reported consolidated revenue of NT$2.025 billion for January–November 2025, representing a 10.38% year-over-year increase.

As the Group has successfully transformed from a traditional manufacturer into an energy technology service provider, Billion continues to deepen its vertically integrated structure encompassing system development, channel applications, and asset management. This enables Billion to precisely align with Taiwan’s structural policy initiatives, including solar power PV replacement, industrial energy storage subsidies, reserve capacity obligations, and EV charging infrastructure deployment.

With its comprehensive technical and service integration capabilities—together with operational efficiencies driven by the full consolidation of Billion Watts, and the gradual realization of overseas solar-plus-storage projects in Australia and Japan—General Manager Elsa Chang stated that, supported by overseas markets entering a scale-up phase and the continued rollout of domestic behind-the-meter (BTM) commercial and industrial energy storage and diversified energy solutions, the Group remains positive on its 2026 outlook. Billion targets 20% year-over-year growth in consolidated revenue, with overseas markets expected to become the primary growth engine.

AI and Renewable Energy Reshaping Power Systems: Energy Storage Emerges as Critical Infrastructure

Amid the rapid expansion of AI applications, continued growth in energy-intensive industries, and rising penetration of renewable energy, power systems worldwide are undergoing structural transformation. Load volatility is increasing, elevating the importance of power dispatch and grid stability. Sam Chen, Deputy General Manager of Billion Watts, noted that energy storage is increasingly becoming a critical component of next-generation power systems, with applications spanning grid-side regulation, commercial and industrial energy management, and distributed and microgrid systems. Market demand for energy storage demonstrates long-term structural growth characteristics.

In response, Billion Group has continued to adjust its operational focus, strengthening the integration of front-of-the-meter (FTM) and behind-the-meter (BTM) energy storage, combined with system development, EPC, O&M, and energy management systems (EMS). This enables the delivery of one-stop intelligent energy solutions for enterprise customers. Among these, BTM commercial and industrial energy storage has completed early-stage project deployment and business model validation, and has been positioned as a key pillar of the Group’s future diversified energy services.

Strategic Alignment with Policy Direction Driving Green Energy Growth

With Taiwan’s electricity demand projected to grow at an average annual rate of approximately 1.7% over the next decade, effective power management has become a fundamental requirement for sustainable business operations. Leveraging its system integration and project execution capabilities, Billion is systematically capturing the following key policy-driven opportunities:

• Solar PV Repowering Integrated with Energy Storage:  According to the Energy Administration, approximately 800 MW of solar PV capacity in Taiwan has been operating for over 10 years. Through high-efficiency module replacement, an estimated 500 MW of additional capacity could be unlocked without increasing land use. Beyond offering redesign and O&M services, Billion emphasizes the power dispatch needs arising from enhanced generation efficiency. By deeply integrating PV upgrades with energy storage, the Company helps customers unlock secondary asset value on existing sites while increasing energy storage penetration.

• NT$5 Billion Industrial Energy Storage Subsidy Enhancing Competitive Advantage:  Aligned with the Ministry of Economic Affairs’ four-year NT$5 billion subsidy program, Billion Group leverages the qualification of domestic manufactured energy storage systems to combine with the FTM and BTM construction and O&M capabilities of Billion Watts and Billion EVC, demonstrating strong competitiveness in subsidy applications and project deployment. Following the successful implementation of 15 projects across semiconductor, textile, and healthcare sectors in 2025, the Group will continue expanding its footprint.

• Green Transportation and Distributed Energy Storage Deployment:  Benefiting from subsidies from the Ministry of Transportation and local governments, subsidiary Billion EVC has built a comprehensive EV charging product portfolio ranging from 7 kW AC to 480 kW DC, promoting integrated “PV + storage + charging + O&M” solutions. In parallel, in response to BSMI RPC safety regulations to be implemented starting in 2026, the Group is actively expanding into residential and small commercial energy storage, leveraging its technical foundation and the trusted Billion brand to convert policy direction into long-term service and recurring O&M revenue.

Steady Overseas Expansion: Japan and Australia as Mid- to Long-Term Growth Engines

Regarding overseas markets, Deputy General Manager Sam Chen highlighted that Japan and Australia are set to become key growth engines, with projects transitioning from planning into execution and track-record accumulation.

In the Japanese market, Billion is capitalizing on the Japanese government's emphasis on energy independence and ‘non-China-origin supply chains’ policy trends, focusing on medium and small commercial and industrial (C&I) energy storage applications of 100-500 kWh. Its subsidiary, Billion Watts, completed its first batch of landmark project signings in 2025, with installations scheduled to come online from 2026.

Billion Group uses the self-developed Billion Fusio Nex C&I Energy Storage Integration System as the core solution, combining local EMS system interfaces and regulatory standards to gradually establish a replicable standardized implementation model, and aligning with Japan's energy policies and subsidy mechanisms to deepen the integration of commercial energy storage and smart energy applications. Through collaboration with local energy businesses, related projects will continue to accumulate achievements, positioning the Japanese market as an important model for future scale expansion and the replication of business models.

In the Australian market, the main focus is on small to medium-sized solar-plus-storage integration and standalone energy storage projects under 5MW. Through various project types such as 'solar plus storage (PV+BESS)', a flexible profitability model is being built. The solar-plus-storage demonstration project located in Victoria (PV: 5.8MWp / BESS: 11MWh) is progressing smoothly, with the goal of completing grid connection and officially participating in the National Electricity Market (NEM) electricity trading by the second quarter of 2026.

Besides this project site, Australia has established a clear development pipeline, including three projects about to launch (PV: 16.61 MWp / BESS: 33 MWh) and ten projects under evaluation and negotiation (PV: 36 MWp / BESS: 110 MWh). Overall, the Australian market is expected to accumulate a total of 18 projects, with a scale of PV: 58.41 MWp / BESS: 154 MWh, providing clear visibility for the group's mid-term overseas growth.

General Manager Elsa Chang added that as global energy transition policies become clearer, coupled with the group's complete product line and system integration capabilities in photovoltaics, energy storage, and energy management, the group will continue to promote its overseas expansion through careful project evaluation and diverse business models. While maintaining risk control, it will effectively enhance asset value and operational flexibility, steadily driving the overall value growth of the group.

Network Communications Anchored in North American Utilities; 5G and NTN Open New Growth Curves

In the network communications segment, the Group continues to focus on the North American utility market, including electricity, water, and natural gas. In response to global digital transformation and critical infrastructure upgrades, Billion is actively expanding into utility private networks and related applications, while advancing deployments of 5G NR and NTN (non-terrestrial network) satellite communications technologies. Its North American subsidiary BEC, with industrial-grade 4G/5G routers and cloud-based management platforms as the core product, has successfully entered the supply systems of several leading power utilities. Orders for 5G private network applications are continuing to progress steadily.

Meanwhile, as the convergence of terrestrial and satellite networks becomes a key industry trend, BEC has received Utilities Technology Council (UTC) recommendations for utility private networks, further strengthening its existing utility customer base. BEC is also extending its applications into oil fields, energy management, and other critical industrial environments. To meet the demands of specialized operating conditions, BEC offers high-reliability, explosion-proof communication devices and is concurrently planning the launch of next-generation solutions tailored to customer needs. These initiatives will continue to deepen the Group’s presence in North America’s critical communications market and support long-term growth momentum.

Optimizing Revenue Portfolio Demonstrates Transformation Progress; Implementing a “Light-Asset, Steady-Growth” Strategy

From the revenue structure, Billion’s revenues of the first eleven months of 2025 reflect a growth profile centered on its energy business, with solar and energy storage-related activities accounting for more than 80%. Network communications and power supply businesses continue to provide a stable operational foundation, underscoring the steady execution of the Group’s transformation strategy.

General Manager Elsa Chang noted that 2025 marks a key starting point for the Group’s behind-the-meter (BTM) commercial and industrial energy storage deployment. To date, 15 BTM C&I projects have been completed or are under construction, with additional projects progressing according to schedule. These projects are expected to be completed and recognized as revenue in the first half of 2026, signaling that BTM C&I energy storage has become a core profit driver within the Group’s diversified energy services portfolio.

General Manager Elsa Chang further stated that the group's future operations will continue to focus on the core principles of 'service-oriented, asset-light, and intelligent operations.' By optimizing organizational and resource allocation, the group aims to enhance the scalability and replicability of its energy technology services. With Billion Watts’ full consolidation now completed, the group has further integrated the technology, project, and financial management frameworks of its energy business, while simultaneously completing an inventory of assets and resources, laying a more solid foundation for future growth. Moving forward, the group will continue to adhere to an asset-light, low-debt operating strategy while balancing revenue growth with reasonable gross margins, steadily promoting medium- to long-term value growth.

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