BW Industrial signs strategic MoUs to power digital and industrial growth

Representatives of BW, BV Power and VSSES at the signing ceremony on March 24

Lance Li, CEO of BW, said that Vietnam was entering a new phase of industrial growth, driven by digital infrastructure, advanced manufacturing and rising demand for cleaner, more reliable energy.

“These partnerships strengthen BW's ability to meet that demand at scale. They also reflect our ambition to build industrial ecosystems that are not only ready to back the growth today, but relevant to support the economy of tomorrow,” said Li.

Under the first MoU, BW will partner with BV Power to support the development of large-scale power infrastructure at BW Supply Chain City Industrial Park, one of BW's flagship industrial developments.

The partnership is intended to strengthen the site's ability to serve future hyperscale data centre projects and high-tech industrial tenants requiring stable, scalable electricity supply. It also supports Ho Chi Minh City’s digital transformation ambitions, as the City is planning a concentrated digital technology zone in Binh Duong Ward that includes BW Supply Chain City.

The collaboration builds on an agreement signed on January 13, under which development approvals are underway for a 110kV substation within the park. That venture is on track to deliver an initial 120 MW within the next year, securing the first phase of supply capacity.

The newly signed MoU establishes a pathway for the next phase of growth. Subject to demand, BW and BV Power will evaluate and develop additional 220kV and 110kV substations that could add up to 580 MW of new capacity, bringing the site's total planned power supply to approximately 700 MW over the next three to five years.

BW has also signed an MoU with Vietnam-Singapore Smart Energy Solutions (VSSES) to develop a 30 MWp rooftop solar system at BW Bau Bang Industrial Hub, with the potential to expand to more than 100 MWp over time.

With 30 MWp at a single industrial hub, this first phase of installation is expected to be among the largest single-site rooftop solar deployments in Vietnam's industrial and logistics real estate sector.

The initiative also marks BW's largest rooftop solar milestone to date and builds on pilot projects completed in 2024 at Tan Phu Trung Industrial Park and My Phuoc 3 Industrial Park.

The initial phase is expected to deploy solar systems across approximately 240,000 square metres of rooftop space, generating up to 40.5 million kWh of renewable electricity annually.

BW will co-lead development and management of the rooftop solar platform, while VSSES will provide engineering and operational expertise. BV Power will serve as offtaker, purchasing the electricity generated and supporting distribution and grid integration.

With nearly three million sq.m of rooftop space across its portfolio, BW has a strong foundation for broader solar deployment. The initiative is designed to expand tenants' access to renewable electricity and support their sustainability goals.

These two MoUs underscore BW's strategy to integrate advanced power infrastructure and renewable energy solutions across its platform in response to rising demand from data centres, advanced manufacturing and other digital economy tenants.

The agreements mark an important step in BW's strategy to build the essential infrastructure required by high-growth customers, including hyperscale data centres, advanced manufacturers and global tenants seeking more sustainable operations. Together, the partnerships enhance BW's ability to deliver power-ready, future-focused industrial space in one of Asia's most dynamic manufacturing and digital economies.

With more than 10 million sq.m of land bank, 60 projects across 10 key provinces and over 475 tenants, BW continues to strengthen its position as a leading provider of industrial infrastructure for the new economy.

BW has been focused on developing modern for-rent factories and warehouses to capture outsized growth opportunities driven by manufacturing, increasing domestic consumption, and the rapid rise of e-commerce.

BW was founded by Warburg Pincus, a leading global private equity firm and one of the largest and most active investors in Asia real estate, and Becamex Group, the largest state-owned industrial and infrastructure developer in Vietnam.

In 2023, ESR Group, a leading Asia-Pacific real asset owner and manager, became a strategic investor in BW.

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