en.Wedoany.com Reported - Taiwan-based electronics manufacturer Hon Hai Precision Industry Co., Ltd. (commonly known as Foxconn), in partnership with global investment firm Brookfield, will launch a gigawatt-scale renewable energy cooperation project in Vietnam.
According to a joint statement, under a newly signed strategic cooperation agreement, the two companies will jointly develop utility-scale wind, solar, and energy storage projects with a total installed capacity of up to 1GW, all backed by long-term power purchase agreements. Both parties will participate in the investment and asset management of the target projects.
The collaboration aims to secure production operations for Foxconn and its local supply chain partners in Vietnam. As the primary contract manufacturer for Apple's iPhone, Foxconn's Chief Investment Officer James Tu stated that this partnership will provide stable and cost-competitive electricity for the group's continued development in Vietnam.
Daniel Cheng, Head of Brookfield's Asia-Pacific Energy Business, said: "Vietnam is one of the fastest-growing economies in Asia. This collaboration with Foxconn fully demonstrates the immense demand for renewable electricity among local enterprises. Global manufacturers are increasingly favoring renewable energy due to its cost advantages, deployment efficiency, and energy security benefits. Demand for long-term green power supply in Southeast Asia continues to rise. At the same time, favorable policies in Southeast Asian countries are further driving renewable energy development, supporting the implementation of our transition-enabling investment strategy. Business activities related to this strategy have remained active over the past year."
Brookfield will fund this project through its transition-enabling fund.
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