Aboitiz Power Corporation is moving beyond Philippine borders with the purchase of a 25 percent stake in Vietnam’s Van Phong Power Company from Japan’s Sumitomo Corporation for about 220 million dollars or nearly 13 billion pesos. The 1320-megawatt coal facility began operations this year and supplies electricity to Vietnam Electricity under a 25-year contract that delivers about 8.5 billion kilowatt hours annually.
The acquisition marks one of the largest regional investments by a Philippine power company in recent years. Aboitiz said the deal aligns with its goal to expand its generation portfolio and gain exposure to fast-growing Southeast Asian markets. While the plant is coal-based, the company emphasized that the investment complements its transition strategy toward cleaner energy by providing stable cash flow for future renewable projects.
Energy analysts said the move highlights how Philippine companies are exploring regional opportunities as domestic demand slows and regulatory hurdles persist. For consumers, it shows that local energy conglomerates are diversifying revenue streams to protect profitability, which could eventually stabilize power prices at home. The transaction also signals growing investor interest in cross-border energy partnerships within ASEAN.