Aboitiz Power Corp. is looking at investment opportunities in Vietnam as a part of an international expansion, an executive said Monday.
‘In Vietnam, there are a few deals we are currently evaluating. They are in the RE [renewable energy] space, although we are still evaluating it. Hopefully, with patience, we’d end up doing something soon,” Aboitiz Power president Erramon Aboitiz said.
Aboitiz said the company was looking at opportunities in solar and wind projects in Vietnam.
“Right now, we’re really focusing on Vietnam. They have their FIT―the feed-in-tariff there. We think that’s an opportunity for us. So a lot of our efforts have shifted and are really focused on Vietnam,” he said.
“For the timeframe, we are looking at several projects in advanced stages, so hopefully we will be able to announce projects soon,” he said.
Aboitiz said the company would likely work with local partners in Vietnam to build renewable projects of up to 100 megawatts.
“Since these are RE projects, anywhere between 50 to 100 MW, those are the sizes,” Aboitiz said.
Aboitiz Power, one of the country’s biggest power firms, said it would invest P51 billion this year, mainly for the construction of GNPower Dinginin power plants in Bataan and for exploratory and operating activities.
“AboitizPower believes that it is well-positioned to take advantage of opportunities arising from developments in the power industry,” the company said.
Aboitiz Power and Arlington Mariveles Netherlands Holding B.V., an affiliate of AC Energy, signed a share purchase agreement on Sept. 26, 2018 for the acquisition of the Ayala Group’s coal assets valued at $579.2 million (P31.4 billion).