Philippine energy firm eyes Vietnam's power market

THE HANOI TIMES — Aboitiz Power, a leading Philippine energy corporation, is seeking investment opportunities in Vietnam's electricity and energy sectors, according to its Chairman and CEO Daniel C. Aboitiz.

At a meeting with Deputy Prime Minister Nguyen Chi Dung on August 5, the Philippine businessman expressed interest in contributing to improvements in Vietnam’s power transmission system.

Founded in 1988, Aboitiz Power operates nearly 50 power plants in the Philippines with a total capacity of around 5,000 MW. The company’s energy portfolio includes thermal, hydroelectric, geothermal, wind, and solar power.

In Vietnam, Aboitiz Group has been operating since 2014 through investments in agriculture, specifically in animal feed production. Its factories are located in Ho Chi Minh City, Tay Ninh and Dong Thap provinces.

Aboitiz Power is also exploring the use of artificial intelligence to build smart maintenance systems for energy projects.

Deputy Prime Minister Nguyen Chi Dung welcomed the company’s plans to expand investment in Vietnam, especially in renewable energy.

Vietnam is entering a new era of fast and sustainable development, aiming for double-digit economic growth in the coming years as part of its centennial development goals. The electricity demand, therefore, is expected to grow rapidly, particularly for emerging industries such as artificial intelligence and big data, Dung said.

He encouraged Aboitiz Power to work with the Ministry of Industry and Trade and relevant localities to identify suitable projects, especially in wind, solar, and liquefied natural gas power.

Dung suggested the company consider developing integrated models that combine renewable energy plants with data centers and supporting industries in Vietnam, in addition to expansion in feed production, agricultural products, food processing, finance and banking, and infrastructure. 

He also hoped that Aboitiz Power would provide input on regulatory and policy frameworks for effective power management and human resource training.

"The Vietnamese Government is committed to creating all favorable, sustainable, and long-term conditions for both domestic and foreign investors," Deputy PM Dung said.

In April 2025, the government approved an updated version of the Power Development Plan VIII to ensure sufficient electricity supply for national development goals. Under the plan, renewable energy is expected to account for 28%-36% of total power capacity by 2030, with a target of 74%-75% by 2050.

The roadmap also includes building a transparent legal framework and a modern, smart power grid to enable the implementation of large-scale, high-impact energy projects.