Brookfield Asset Management and Hon Hai Technology Group (Foxconn) have announced a strategic partnership to invest in and develop up to 1 GW of renewable energy capacity in Vietnam. The initiative will focus on utility-scale solar, wind and battery energy storage projects supported by long-term power purchase agreements (PPAs), strengthening renewable energy supply for Vietnam’s growing manufacturing sector.
Under the agreement, the two companies will jointly invest in, develop and manage renewable energy assets. Brookfield will participate through its Catalytic Transition Fund, which focuses on accelerating decarbonisation and supporting the transition to net-zero emissions across emerging markets and developing economies, including Southeast Asia.
The partnership is expected to support Foxconn’s operations and supply chain in Vietnam by providing long-term access to reliable and cost-competitive renewable electricity. According to the companies, the initiative reflects increasing demand from multinational manufacturers for clean energy solutions that enhance energy security while helping achieve sustainability objectives.
The development programme is expected to progress alongside Vietnam’s evolving direct power purchase agreement (DPPA) framework, which is designed to enable large electricity consumers to procure renewable energy directly from generators. Industry observers view the partnership as a significant endorsement of Vietnam’s renewable energy market and its growing role as a regional manufacturing and technology hub.