AboitizPower expands overseas with investment in Vietnam power plant
- October 30, 2025
- 0
Aboitiz Power Corporation (AboitizPower) has announced plans to acquire a 25% equity stake in Van Phong Power Company Limited (V
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PCL) from Japan’s Sumitomo Corporation, thus marking its first major investment outside the Philippines.
VPCL operates the 1,320-megawatt (MW) Van Phong 1 high-efficiency, low-emission (HELE) coal-fired power plant located in Khánh Hòa Province, Vietnam. The plant began commercial operations in January 2024 and operates under a 25-year power purchase agreement with Vietnam Electricity (EVN).
With an annual output of about 8.5 billion kilowatt-hours, Van Phong 1 contributes around 4% of Vietnam’s total power generation and is the largest foreign-invested power plant in the Van Phong Special Economic Zone.
AboitizPower said the acquisition aligns with its long-term strategy to maintain a balanced mix of energy technologies that ensure reliable, affordable, and sustainable power. The company emphasized that the investment complements its growing renewable energy portfolio and supports its goal of achieving a just and sustainable energy transition.
The transaction is subject to regulatory approvals and customary closing
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conditions.
How do you think AboitizPower’s first overseas venture could influence the company’s regional growth and energy transition strategy?
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