Vivant Energy budgets P15B for RE ventures
To achieve our growth plans, our total equity investment requirement up to the year 2030 is projected to reach P22 billion.
Daily TribuneTo achieve our growth plans, our total equity investment requirement up to the year 2030 is projected to reach P22 billion.
Listed Cebu-based energy and water Vivant Corp. is flexing a P15-billion financial muscle that will fuel its development of renewable energy projects until the end of the decade or by 2030.
At the company’s annual stockholders’ meeting yesterday, Vivant Energy president Emil Andre Garcia bared the plan, which is an integral part of the company’s goal of becoming a leading industry player.
“As we look to the future, Vivant Energy remains committed to developing solutions for energy transformation and the improvement of energy services in the country,” Garcia said.
“To achieve our growth plans, our total equity investment requirement up to the year 2030 is projected to reach P22 billion. Out of this, we target to earmark P15 billion for various renewable energy projects,” he added.
Vivant enters wind deals
Vivant Energy has kicked off its foray into the wind space through a partnership with Aboitiz Renewables and Vena Energy for the development of a 206 MW wind farm in San Isidro, Northern Samar. The project is scheduled to be completed early next year.
To date, it also expanded its off-grid portfolio by consolidating ownership in facilities in Puerto Princesa, Palawan (Delta P. Inc.), Coron and Busuanga, Palawan (Calamian Islands Power Corp.), and Bantayan Island, Cebu (Isla Norte Power Corp.) last year.
The acquisitions increased the company’s investment in the Small Power Utilities Group (SPUG) from 35 MW to 63 MW, nearly doubling Vivant Energy’s attributable installed capacity in this segment.
Vivant Energy also started taking up space in the renewable energy sector, which included the buyout of a solar facility in Bulacan, known as San Ildefonso Alternative Energy Corp.
It also signed a collaborative agreement with Vena Energy and Aboitiz Renewables Inc. for the construction of a wind farm in Samar, Leyte.
Through these initiatives, Vivant Energy plans to increase its capacity by 22 MW in 2021 and 62 MW by 2025.
