Manila, Oct. 30 -- Publicly-listed Aboitiz Power Corp. announced Thursday its purchase of a 25 percent stake in Vietnam's Van Phong Power Co. Ltd. (VPCL) from the shares of Sumitomo Corp.

The 1,320-megawatt (MW) high-efficiency, low-emission coal-fired power plant is located in Khan Hoa province and began operations in 2024. It has a 25-year power purchase agreement with Vietnam Electricity.

It is the power plant in the Van Phong Special Economic Zone that has the biggest foreign investment.

AboitizPower did not mention how much it spent for this acquisition but said "it represents the company's first significant investment outside of the Philippines."

"With this venture, AboitizPower remains on track to deliver sustainable returns to...