Aboitiz Power to acquire 25 per cent stake in VPCL

• a day ago (2025-11-04)
• David Flin

Asia 974 Coal 340

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Aboitiz Power of the Philippines has announced its first major overseas investment with the acquisition of a 25 per cent stake in Van Phong Power Co Ltd (VPCL) of Vietnam from Japan’s Sumitomo Corporation .

VPCL owns and operates a 1320 MW coal-fired power plant in Khanh Hoa province, Vietnam. The Van Phong power plant started commercial operations in 2024, and operates under a 25-year PPA with Vietnam’s national utility, Vietnam Electricity . The plant supplies around 4 per cent of Vietnam’s annual gross power generation.

Closure of the transaction is subject to customary closing conditions, including securing the necessary regulatory approvals.