Brookfield to Invest in 1GW Vietnam Renewables, Cites Bloom Energy Partnership
BAM•Brookfield will invest via its Catalytic Transition Fund to co-develop up to 1GW of wind, solar and battery storage in Vietnam under long-term PPAs to power Foxconn’s factories. Brookfield’s renewable portfolio also includes a partnership with Bloom Energy, whose stock slid 24% despite 130% Q1 revenue growth and $3.4-3.8B guidance.
1. Vietnam Renewable Energy Partnership
Brookfield and Foxconn have agreed to jointly develop up to 1GW of wind, solar and battery storage capacity in Vietnam to supply Foxconn’s manufacturing operations under long-term power purchase agreements.
2. Investment via Catalytic Transition Fund
Brookfield will allocate capital through its Catalytic Transition Fund, sharing responsibility for investment decisions and asset management across targeted renewable projects to secure stable, cost-effective energy supply.
3. Bloom Energy Alliance and Performance
In addition to the Vietnam initiative, Brookfield maintains a partnership with Bloom Energy, which reported a 130% surge in Q1 revenue and set full-year guidance of $3.4-3.8 billion despite a 24% stock decline.
4. PPA Regulations and Future Outlook
The projects will progress in line with Vietnam’s evolving direct PPA framework, as Brookfield aims to tap growing corporate demand for renewables in one of Asia’s fastest-growing markets.
