Vivant Energy Earmarks PHP 15B in Renewable Energy Push
Vivant Energy Corporation, the energy subsidiary of Cebu-based energy and water conglomerate Vivant Corporation (VVT), is allocating PHP 22 billion in investments in the country’s energy sector in the period ending 2030.
Of this amount, PHP 15 billion will be earmarked for renewable energy projects, the company said in a statement. In 2023, Vivant Energy expanded its investment in the small power utilities group (SPUG), resulting in a major increase in its attributable installed capacity from 35 megawatts (MW) to 63MW. The company also acquired San Ildefonso Alternative Energy Corp. (SIAEC), which is its first utility-scale solar power generation facility located in Bulacan with a total capacity of 22MW.
Further, Vivant Energy entered the wind energy space via a partnership with Aboitiz Renewables and Vena Energy for the development of a 206-MW wind farm in San Isidro, Northern Samar, which is expected to be completed in the second quarter of 2025.
“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,” Vivant Energy President Emil Andre Garcia said.
Water Investments
Meanwhile, the company’s water business unit Vivant Infracore Holdings, Inc., with the brand name Vivant Water, announced the first water out of the first skid/train of its plant in Isla Mactan Cordova Corp. (IMCC). The company said it is the first to construct a utility-scale seawater desalination facility in the Philippines.
Vivant Water said the construction of its 20-megaliters-per-day seawater desalination plant in Cordova, Cebu, is 90% complete and will be fully operational before the end of the year.
The company’s investment in Puerto Princesa, Palawan, brought in PHP 8.4 million in equity earnings for 2023, up 32 percent year-on-year. The increase in revenue was due to higher earnings from septage operations on the back of increased desludging services, it noted. To date, Vivant Water has invested PHP 2 billion in water infrastructure.
“While we remain focused in the near team to our home market of Cebu and other identified locations, we ultimately aim to be a major player in the water sector with operations in the country,” Vivant Water President and COO Jess Anthony Garcia said. “We expect a total investment of about PHP 8 billion over the next five years.”
VVT said it sees 2024 as “another year of sustained growth,” as the company posted an increase in profit of 43% year over year for 2023. The company’s revenue and operating income amounted to PHP 2.3 billion last year. The growth was primarily driven by the solid financial performance of Vivant Energy.
“We are extremely proud of how we’ve been able to move the country forward with our significant investments in energy and water,” VVT CEO Arlo Garcia Sarmiento said.
