Bofeng, Foxconn Establish Renewable Energy Partnership in Vietnam

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Bofeng, a leading global investment firm, announced a strategic partnership with Foxconn Technology Group, the world's largest electronics manufacturer. The two companies will jointly invest in and develop renewable energy projects in Vietnam to support Foxconn and its supply chain partners' operations in the country.

Bofeng and Foxconn will jointly develop wind, solar, and energy storage projects of up to 1GW in scale, using long-term power purchase agreements (PPAs). They will also collaborate on investment and asset management for these projects.

Bofeng will participate in the collaboration through its Catalytic Transition Fund, a core investment platform for Bofeng to drive and accelerate net-zero transitions in emerging markets and developing economies, with a focus on regions such as Southeast Asia.

Cheng Jingyao, Head of Energy Business for Asia Pacific at Bofeng, stated, "Bofeng's collaboration with Foxconn focuses on Vietnam, one of Asia's fastest-growing economies, and the growing demand for renewable energy from businesses. As global manufacturers accelerate the adoption of renewable energy based on factors such as cost competitiveness, speed of commercialization, and energy security, the demand for long-term renewable energy supply in the region is continuously growing." He added, "The continuous improvement of relevant policies in Southeast Asia has created favorable conditions for the development of renewable energy and Bofeng's emerging market energy transition promotion strategy, allowing Bofeng to continue its steady progress over the past year."

Tu Mo-hsi, Chief Investment Officer of Foxconn Technology Group, said, "We are delighted to establish a partnership with Bofeng to secure long-term renewable energy supplies for Foxconn's operations and supply chain in Vietnam. By jointly investing and participating in project management with Bofeng, this collaboration will provide Foxconn with a stable and cost-effective power guarantee for its continued development in the region."

This cooperation will be carried out in parallel with the gradual improvement of Vietnam's Direct Power Purchase Agreement (Direct PPA) policy framework.