Standing from left: Department of Energy Secretary Sharon Garin and His Excellency Lai Thai Binh, Ambassador of Vietnam to the Philippines. Seated from left: Noel Cariño, Vice Chairman of SunAsia Energy; Tetchi Capellan, CEO and President of SunAsia Energy; Nguyen Anh Khoa, CEO of VinEnergo; and Reden Rodriguez, Managing Director of VinEnergo Energy Joint Stock Company, during the signing ceremony for the SunAsia Energy and VinEnergo Solar on Water partnership.
SunAsia Energy Inc. and VinEnergo of Vietnam have entered a strategic partnership to develop a 422-MWp Solar on Water portfolio across Pampanga and Negros Occidental, representing an estimated investment of US$406 million and marking a significant milestone in renewable energy cooperation between the Philippines and Vietnam.
Targeted for commercial operations between 2027 and 2028, the three projects are expected to be among the first large-scale pile-mounted Solar on Water developments in the Philippines. Once operational, they are expected to generate enough clean electricity to power more than 278,000 homes annually while avoiding approximately 460,888 tons of carbon emissions each year—equivalent to the carbon sequestration of around 21 million trees.
The partnership was formally announced during “SunAsia and VinEnergo: A Celebration of ASEAN Partnership” held at Grand Hyatt Manila – The Gallery.
The signing of the partnership was supported by the respective advisors of the parties, with EY and ING providing advisory support in connection with the transaction. EY, formerly known as Ernst & Young, is a global professional services organization providing assurance, consulting, tax, strategy, and transaction advisory services. ING, which traces its name to Internationale Nederlanden Groep, is a global financial institution of Dutch origin providing retail and wholesale banking services, including corporate finance and sustainable finance solutions.
The projects will utilize Solar on Stilts technology, an innovative Solar on Water model in which solar panels are elevated on concrete pile structures above water areas, allowing aquaculture and fishpond operations to continue beneath and around the installations. The approach demonstrates how renewable energy generation can coexist with food production and water resource management, supporting the Food–Energy–Water Nexus while preserving the traditional livelihoods of local communities.
Located in Pampanga and Negros Occidental, the projects are designed to maximize the productive use of water-based areas by enabling clean energy generation alongside aquaculture activities. Together, they are expected to serve as pioneering models for sustainable development that balance energy security, food production, environmental stewardship, and community development.
Advancing Energy Security, Aquaculture, and ASEAN Cooperation
The partnership is expected to help address growing power demand in Luzon and the Visayas while supporting the country’s transition to cleaner energy sources. Beyond power generation, the projects are expected to create employment opportunities, stimulate local economic activity, and support sustainable development in host communities.
“This partnership was born out of the shared resolve of SunAsia Energy and VinEnergo to advance energy security, support economic growth, improve the lives of our people, and help protect the planet,” said SunAsia Energy CEO and President Tetchi Capellan. “Through Solar on Stilts, we are not only building renewable energy infrastructure; we are creating a model where food production and clean energy can grow together.”
Capellan said the partnership presents a unique opportunity to integrate solar energy with aquaculture, particularly in Pampanga and Negros Occidental, where fishponds and aquaculture communities play an important role in local livelihoods and food production.
“The most exciting part of this partnership is the integration of aquaculture and energy production,” Capellan added. “Vietnam is one of the world’s leading shrimp exporters, while the Philippines has a strong history in shrimp production. By bringing together the experience, technology, and commitment of both countries, this partnership presents a compelling case for integrated solar-aquaculture farming from both a farm productivity and energy cost perspective.”
Capellan, a former Undersecretary of Agriculture, also emphasized that Solar on Stilts can serve as a template for renewable energy projects that help increase investments in agriculture, support the modernization of the Philippine shrimp and aquaculture industries, create jobs, and improve the lives of fishing and aquaculture communities.
Over the next 18 months, SunAsia Energy and VinEnergo will work closely on engineering and project development activities, including the selection of maritime engineers, technology providers, and contractors for the installation of close to 700,000 solar panels on stilts and approximately 62 kilometers of new transmission lines across Pampanga and Negros Occidental.
“We look forward to working with SunAsia Energy in bringing this innovative renewable energy model from vision to reality,” said Nguyen Anh Khoa, CEO of VinEnergo. “Solar on Water offers a unique opportunity to support sustainable energy growth and responsible resource utilization.”
The announcement comes as the Philippines hosts an ASEAN ministerial meeting, underscoring the importance of regional cooperation in advancing energy security, climate action, food resilience, and sustainable development. The partnership highlights how collaboration between ASEAN companies can accelerate clean energy investment, strengthen regional economic ties, and drive shared prosperity across Southeast Asia.
Through this partnership, SunAsia Energy and VinEnergo reaffirm their shared commitment to developing renewable energy projects that deliver lasting value for communities, economies, and future generations.
