In a bold strategic move that signals its growing international ambitions, Aboitiz Power Corporation, one of the Philippines' leading energy companies, has secured a significant foothold in Vietnam's rapidly expanding power sector.
Major Acquisition in Southeast Asia
The Cebu-based power giant has successfully acquired a 25% equity stake in the ₱6.8 billion supercritical coal-fired thermal power plant located in Nghi Son Economic Zone, Thanh Hoa province, Vietnam. This landmark deal represents Aboitiz Power's first major investment in Vietnam's energy market.
The acquisition was finalized through Aboitiz Power's subsidiary, Aboitiz Power International Pte. Ltd. of Singapore, which purchased the stake from Japanese conglomerate Marubeni Corporation. This strategic partnership positions Aboitiz Power alongside major international players in Vietnam's energy landscape.
Powering Vietnam's Growing Economy
The Nghi Son 2 power facility is a critical infrastructure project that plays a vital role in supporting Vietnam's economic development. With an impressive capacity of 1,200 megawatts, the plant provides substantial power generation capabilities to meet the increasing energy demands of one of Southeast Asia's fastest-growing economies.
"This investment aligns perfectly with our strategic vision of expanding our portfolio across the ASEAN region," stated Aboitiz Power officials. "Vietnam represents a dynamic market with tremendous growth potential in the energy sector."
Strengthening Philippines-Vietnam Energy Cooperation
This landmark deal not only marks Aboitiz Power's entry into Vietnam but also strengthens economic ties between the Philippines and Vietnam. The investment demonstrates the growing confidence of Philippine companies in Vietnam's business environment and energy sector policies.
The supercritical technology employed by the Nghi Son 2 plant represents advanced thermal power generation methods that offer improved efficiency and reduced environmental impact compared to conventional coal-fired plants.
This strategic expansion comes at a time when Southeast Asian nations are balancing energy security needs with environmental considerations, making efficient thermal power plants an important component of the region's energy mix.
