By
Lan Do
Wed, August 6, 2025 | 11:11 pm GMT+7
### AboitizPower Eyes Investment in Vietnam’s Energy Sector
In a notable development for the energy landscape in Southeast Asia, AboitizPower has expressed its intention to invest in Vietnam’s electricity industry. The statement came from Danel Aboitiz, the executive director of the corporation, during a recent meeting with Deputy Prime Minister Nguyen Chi Dung in Hanoi.
### Meeting Highlights
During the meeting, Aboitiz emphasized the company’s keen interest in Vietnam’s transmission infrastructure. This sector is vital for the country, which aims to strengthen its energy capabilities in line with escalating demand. AboitizPower is also eager to understand Vietnam’s priorities and strategic directions in energy development, an indication of its commitment to aligning its investments with national goals.
### Company Background
Founded in 1998, AboitizPower is one of the Philippines’ leading energy companies, operating 51 power plants across the archipelago with a total capacity of around 5,000 MW. The corporation’s energy portfolio is diverse, encompassing various forms of power generation, including thermal, hydroelectric, geothermal, wind, and solar energy.
Aboitiz’s presence in Vietnam is not new; the Aboitiz Group has been actively involved in the agricultural sector since 2014, with animal feed manufacturing facilities located in regions like Tay Ninh, Dong Thap, and Ho Chi Minh City. This background provides Aboitiz with a unique perspective on the Vietnamese market, potentially enhancing its capacity to navigate local regulatory landscapes.
### Embracing Technological Advancements
Aboitiz Group is also exploring innovative methods to enhance operational efficiency. The incorporation of artificial intelligence (AI) into the development of maintenance systems for power projects indicates a forward-thinking approach that could yield improved reliability and performance in energy production and distribution.
### Responding to Vietnam’s Energy Needs
Deputy Prime Minister Nguyen Chi Dung recognized the urgency of meeting Vietnam’s increasing electricity demand, especially as the country pursues ambitious economic growth targets. With emerging sectors like AI and Big Data expected to drive energy consumption further, the government is keenly aware of the need for a robust energy infrastructure that can support this expansion.
### Roadmap for Renewable Energy
In alignment with its international commitments and development objectives, Vietnam has adopted the Adjusted Power Development Plan VIII. This strategic roadmap aims to ensure that renewable energy sources contribute between 28% to 36% of the total power capacity by 2030, with an ambitious increase to about 74% to 75% by 2050.
### Green Energy Expansion
Deputy Prime Minister Dung praised Aboitiz Group’s successes in renewable energy and expressed support for its plans to expand investments in Vietnam’s green energy sector. The government seems eager to engage in dialogues that could help transition Aboitiz’s investment interests into tangible projects that could benefit both the corporation and the country’s energy landscape.
### Call for Collaboration
To facilitate this transition, Dung encouraged Aboitiz Group to have comprehensive discussions with the Ministry of Industry and Trade and local authorities. The focus would be on identifying suitable projects in areas such as wind, solar, and liquefied natural gas (LNG) power.
Moreover, the Deputy Prime Minister suggested that Aboitiz consider investment models that combine renewable energy plants with data centers. This synergy could create opportunities for the development of supporting industries, catering to both domestic requirements and export markets.
### Financial Performance
According to AboitizPower’s 2024 annual report, the corporation posted revenues of PHP 197.49 billion (approximately $3.43 billion), showing a 5% decrease from the previous year. However, net profits saw a slight increase of 2%, reaching PHP 33.9 billion ($589.8 million). Total assets at the end of 2024 amounted to PHP 517.6 billion (around $9 billion), reflecting a steady growth of 6% year-on-year, whilst the debt-to-equity ratio improved, decreasing by 7% to 1.4.
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In summary, AboitizPower’s interest in Vietnam represents a significant step towards bolstering the nation’s energy infrastructure. With both parties aligning their objectives, the potential for collaborative projects in renewable energy could lead to transformative outcomes for Vietnam’s energy landscape in the coming years.