Bamboo Capital, Foxlink, Micro Electricity partner to establish comprehensive renewable energy ecosystem in ASEAN

Vietnam's Bamboo Capital Group and Taiwanese firms Foxlink and Micro Electricity on Monday signed a strategic cooperation agreement to advance renewable energy technologies and solutions.

Under this agreement, the trio will collaborate on developing energy technology and data service solutions for Bamboo Capital’s renewable energy projects and other clients across ASEAN.

As part of the agreement, Bamboo Capital, Foxlink, and Micro Electricity will establish a joint venture by June 2025. This JV will serve as a platform to advance innovative technologies, including Energy Storage Systems (ESS), Energy Management Systems (EMS), and Energy Blockchain Technology (EBT).

The collaboration aims to select suitable renewable energy projects from Bamboo Capital's portfolio to pilot models for Photovoltaic Operation & Maintenance (PV O&M) and intelligent EMS solutions, targeting a capacity of 100 to 300 MWp.

Additionally, the JV will promote carbon credit services and International Renewable Energy Certificates (IRECs).

As a leading renewable energy developer in Vietnam, Bamboo Capital Group will contribute deep market expertise and foster collaborative opportunities to expand its energy project portfolio.

Micro Electricity will provide cutting-edge, integrated energy management technologies, enhancing the partnership's operational capabilities.

Meanwhile, Foxlink, renowned for its expertise in manufacturing high-tech components, will support optimization efforts and attract international investments, encouraging high-tech companies to relocate their production facilities to Vietnam.

In the first phase of the partnership, the focus will be on establishing the JV and rolling out green energy solutions. A key priority will be renewable energy projects under the Direct Power Purchase Agreement (DPPA) model, catering to the growing demand for green energy within Vietnam's high-tech industries.

Bamboo Capital Group (BCG) is one of Vietnam's leading conglomerates, with a diversified ecosystem of approximately 50 subsidiaries and affiliates operating across renewable energy, real estate, construction and infrastructure, financial services and insurance, and pharmaceuticals.

Ranked among Vietnam's top three renewable energy companies, BCG contributes significantly to the country's Net Zero goals. The group, through its subsidiary BCG Energy, operates approximately 600 MW of solar power and is developing a range of large-scale wind and waste-to-energy projects throughout Vietnam.

Micro Electricity is a leading provider of renewable energy management and data-driven solutions in Taiwan. Backed by prominent investors from government funds, bank groups, high-tech companies, and venture capital, Micro Electricity not only boasts an extensive project portfolio but also plays a critical role in shaping the future of the renewable energy industry. Micro Electricity also provides comprehensive services, including energy development, ESG management, and blockchain-enabled carbon credit platforms, contributing to the advancement of global sustainability trends.

With over 30 years of experience, Foxlink is a global leader in manufacturing high-tech components and devices. The company supplies products such as connectors, cables, batteries, and energy management devices to global brands including Apple, Microsoft, and Google.

Operating 15 facilities worldwide with a workforce of over 29,000, Foxlink achieved revenues of TWD90.9 billion ($2.91 billion) in 2023. Foxlink is actively investing in advanced technologies such as optical systems and wireless telecommunications. In Vietnam, Foxlink is investing $135 million in a high-tech electronics factory in Da Nang, which is expected to generate 2,000 jobs and produce state-of-the-art devices such as stylus pens, wireless earphones, and printed circuit boards.

At the MoU signing ceremony, Nguyen Tung Lam - CEO of Bamboo Capital, emphasized that the event was not merely a cooperation agreement but a shared mission to deliver clean and sustainable energy solutions.

He expressed confidence that this milestone would mark the beginning of a meaningful partnership between Bamboo Capital, Foxlink, and Micro Electricity, generating significant value not only for the businesses involved but also for the wider community and national development.

Mindi Wang, chairman of Micro Electricity, highlighted the alignment in vision among the parties regarding renewable energy. He quoted a famous saying: “If you want to go fast, go alone; if you want to go far, go together.” He affirmed that this partnership would drive ambitious achievements while fostering prosperity for local communities and contributing to sustainable development.

James Lee, chairman of Foxlink Group, underlined the critical role of intellectual property and product differentiation in achieving success in a globalized market. He praised the collaboration for extending beyond energy production to the creation of an integrated ecosystem, asserting that this approach would help the parties overcome challenges and establish a leadership position in the market.