BW’s flagship Supply Chain City Industrial Park near Ho Chi Minh City (Image: BW)
BW Industrial has signed preliminary agreements targeting up to 700 megawatts of power capacity for its developments in Vietnam, as the Warburg Pincus-founded platform ramps up infrastructure to support data centres and advanced manufacturing demand.
The memoranda of understanding with Becamex-VSIP Power Investment and Development JSC (BV Power) and Vietnam-Singapore Smart Energy Solutions JSC (VSSES) will underpin scalable energy supply across key projects, including an initial 120MW at a flagship industrial park, Ho Chi Minh City-based BW said in a release.
The agreements are aimed at enabling reliable grid capacity and expanding renewable energy generation as Vietnam enters a new phase of industrial growth driven by digital infrastructure, advanced manufacturing and rising demand for clean, reliable energy, said BW CEO Lance Li.
“These partnerships strengthen BW’s ability to meet that demand at scale,” Li said. “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.”
Thirst for Power
The first MoU, signed with BV Power, targets future electricity for Supply Chain City Industrial Park, one of BW’s flagship developments in southern Vietnam.
BW Industrial CEO Lance Li (Image: BW)
Under the non-binding agreement, the partners will explore a phased buildout of power infrastructure capable of delivering up to 700MW over the next three to five years, subject to demand. An initial phase is expected to provide 120MW within the next year, supported by development approvals already underway for a 110-kilovolt substation at the site.
Future expansion could include additional 220kV and 110kV substations, adding as much as 580MW of capacity and enabling the park to support hyperscale data centre projects and high-tech occupiers. The park is also positioned to benefit from plans for a concentrated digital technology zone in Binh Duong, reinforcing its role in the region’s data infrastructure buildout.
Separately, BW signed an MoU with VSSES to develop rooftop solar infrastructure at the Bau Bang Industrial Hub in Binh Duong province. The project’s first phase will comprise a 30MW-peak installation across 240,000 square metres (2.5 million square feet) of rooftop space, with potential to scale to more than 100MW.
Once completed, the initial installation is expected to generate up to 40.5 million kilowatt-hours of renewable electricity annually, making it one of the largest single-site rooftop solar deployments in Vietnam’s industrial sector, according to the builder.
BW will co-develop and manage the solar platform, while VSSES will provide engineering and operational expertise, with BV Power acting as offtaker for the generated electricity.
The initiatives complement BW’s broader strategy to integrate power and sustainability infrastructure across its portfolio, which includes nearly 3 million square metres of rooftop space suitable for solar deployment.
Building on Partnerships
The latest agreements follow the company’s January announcement of a $120 million development partnership to expand its footprint in Vietnam, underscoring growing investor interest in logistics and data-driven real estate tied to the country’s manufacturing and digital economy growth.
The partnership is seeded with a set of three projects set to yield 270,000 square metres of ready-built manufacturing space in Vietnam’s key industrial hubs. The developments are scheduled for completion this year and next, as the venture aims to meet rising demand for modular ready-built factories from both multi-national and domestic tenants, the company said.
BW’s deal with the unnamed partner came three years after Asian industrial giant ESR invested $208 million to acquire an equity stake in the Vietnamese company, which was formed as a joint venture between private equity major Warburg Pincus and local developer Becamex in 2018.
Since that time, BW has expanded its portfolio of ready-built factory and warehouse space and now has 10 million square metres of sites in 10 Vietnamese provinces. The company has leased more than 4 million square metres of gross floor area to over 470 tenants as of the end of 2025, according to its website.
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