Aboitiz Power Corp. expects to move ahead with international expansion plan by 2022, a top executive said over the weekend.
“We have deferred our move in Vietnam during the pandemic. We see ourselves back by 2022 into the countries that we have chosen, pre-pandemic,” Aboitiz Power president Emmanuel Rubio said during the company’s virtual briefing.
Aboitiz Power announced in April that it terminated its planned acquisition of a 100-percent ownership interest in Mekong Wind Pte. Ltd. which holds a majority stake in a 39.4-megawatt onshore wind power facility in Ninh Thuan province in southern Vietnam.
Aboitiz Power said Aboitiz Power International Pte. Ltd.’s planned acquisition of Mekong Wind from Armstrong Southeast Asia Clean Energy Fund Pte. Ltd. “was not completed due to a condition precedent being unmet by the agreed longstop date.”
It said Aboitiz Power International was in discussions with Armstrong to revisit the acquisition in the future.