Daniel C. Aboitiz, President and CEO of Aboitiz Power, expressed the group's interest in learning about Vietnam's priorities and orientations for energy and power sector development during a meeting with Deputy Prime Minister Nguyen Chi Dung on 5/8.

"Aboitiz wishes to invest in Vietnam's power sector, especially the power transmission system," Aboitiz said. They are also researching the application of artificial intelligence (AI) to build maintenance systems for power projects.

Deputy Prime Minister Nguyen Chi Dung meets with representatives of Aboitiz Group on 5/8. Photo: VGP

Deputy Prime Minister Nguyen Chi Dung meets with representatives of Aboitiz Group on 5/8. Photo: VGP

Established in 1988, Aboitiz Power is a leading energy company in the Philippines, part of the Aboitiz Group. They operate nearly 50 power plants in the Philippines with a total capacity of about 5,000 MW, including thermal, hydro, geothermal, wind, and solar power.

In Vietnam, the Aboitiz Group has been investing in the agricultural sector since 2014, with a system of animal feed production plants located in various localities, such as Tay Ninh, Dong Thap, and TP HCM.

Deputy Prime Minister Dung responded by stating that Vietnam is accelerating its energy transition and developing a green economy. He highlighted Vietnam's double-digit growth target for the coming period, which creates substantial electricity demand, particularly for emerging industries such as AI and big data.

Therefore, the Vietnamese government supports Aboitiz's plan to expand investment in renewable energy. The Deputy Prime Minister suggested that Aboitiz Group hold detailed discussions with the Ministry of Industry and Trade and local authorities to identify suitable wind, solar, and LNG projects.

He also suggested the investor explore models combining renewable energy power plants with data centers, as well as developing supporting industries to serve their projects in Vietnam and for export. Additionally, he encouraged the group to expand investment in Vietnam in its areas of strength, such as animal feed, agricultural products, and food production.

According to the adjusted Power Development Plan VIII, renewable energy is expected to account for about 28-36% of the total power source capacity by 2030, increasing to 74-75% by 2050. Vietnam continues to improve its institutions and develop a synchronous and intelligent power grid to promote large-scale power projects.

Phuong Dung