Vivant Corp., a Cebu-based firm, has announced that the majority of its capital expenditure (capex) over the next seven years will be allocated to the expansion of its renewable energy (RE) portfolio. The company’s president, Emil Andre Garcia, revealed that P21 billion, or more than 75 percent of its total capex until 2030, will be invested in RE projects through its subsidiary, Vivant Energy.
Garcia emphasized Vivant Energy’s commitment to playing a significant role in energy transformation and contributing to the growth and improvement of power services in the country. The company aims to increase its solar energy business and expand its RE portfolio to 30 percent of the total capacity by 2030.
Vivant Energy Acquires Bulacan Solar Plant
Vivant recently acquired San Ildefonso Alternative Energy Corp., which will develop a 22-megawatt peak solar plant in Bulacan. This acquisition will significantly contribute to Vivant Energy’s RE portfolio, generating approximately 30 gigawatt-hours of electricity annually and reducing carbon dioxide emissions by about 18,000 tons per year.
In addition, Vivant Energy has acquired shares in several power generation facilities from Gigawatt Power Inc. These facilities provide power to areas that are not connected to the national grid. Isla Norte Power Corp., which operates a 23.3-megawatt diesel-fired power plant in Bantayan Island, Cebu province, is now fully owned by Vivant.
Garcia also highlighted Vivant’s subsidiary, Vivant Infracore Holdings Inc., which will invest around P16 billion over the next five years in water resource utilization and wastewater engineering projects. These investments aim to address water supply challenges and the impact of untreated wastewater on vital ecosystems.
Vivant’s CEO, Arlo Sarmiento, emphasized the company’s focus on environmental, social, and governance factors. By addressing these factors, Vivant aims to protect itself from potential risks and position itself as a leader in creating a more sustainable future.
Although Vivant’s earnings for this year were affected by low power revenue and electricity sales, the company plans to spend P30 billion in the next three to five years to increase its RE portfolio.
Vivant Energy to Expand in Off-Grid Areas
In its efforts to expand its reach, Vivant Energy plans to focus on off-grid areas and provide power to small power utilities group areas.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
Denial of responsibility! Samachar Central is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
