Brookfield-Foxconn deal locks 1GW renewable capacity in Vietnam

The long-term deal tightens industrial access to renewable power under evolving PPA rules.

Brookfield Asset Management and Hon Hai Technology Group (Foxconn) have formed a partnership to develop up to 1GW of renewable energy projects in Vietnam, targeting wind, solar, and battery storage to support industrial operations and supply chains.

The projects will operate under long-term power purchase agreements (PPAs), with both companies collaborating on investment and asset management. They are expected to progress alongside the country’s emerging direct PPA framework.

Brookfield will invest through its Catalytic Transition Fund, which focuses on energy transition projects in emerging markets, including Southeast Asia. 

The buildout is intended to supply power to Foxconn’s operations and its broader supplier network in Vietnam.

Brookfield Asia Pacific head of energy Daniel Cheng said the partnership reflects rising corporate demand for renewable electricity in the country, a fast-growing industrial economy.

“As global manufacturers increasingly turn to renewables for its cost-competitiveness, speed to market and energy security benefits, we’re seeing strong and rising demand for long-term supply across the region,” Cheng said.

Foxconn Chief Investment Officer James Tu said the agreement secures long-term renewable energy supply for its Vietnam operations and supply chain, supporting stable and cost-effective power for the company’s regional growth.