Vivant investing in off-grid firms

MANILA, Philippines — Vivant Energy, a subsidiary of publicly listed Vivant Corp., is acquiring shares in firms that own power plants primarily in off-grid areas.

Vivant will acquire the shares from its partner Gigawatt Power Inc., which owns 50 percent in Delta P Inc., Calamian Islands Power Corp. (CIPC), La Pampanga Energy Corp. (LPEC) and Culna Renewable Energy Corp. (CREC), as well as 35 percent in Isla Norte Power Corp.

The acquisition expands Vivant Energy’s investment in small power utilities groups (SPUG) to 63.3 megawatts (MW) in attributable installed capacity from 35.2 MW.

Vivant Energy president and COO Emil Andre Garcia said the investment is aligned with the company’s goal to strengthen its contribution to energy security.

“We will continue to look for opportunities to support sustainable development, especially in off-grid areas and communities where having reliable and stable power is crucial to social and economic development,” Garcia said.

Delta P owns a 31.1-MW bunker-fired power plant in Puerto Princesa City, Palawan, while CIPC owns a 7.35-MW bunker-fired power plant in Coron and a 0.91-MW diesel power plant in Busuanga.

Isla Norte operates a 23.3-MW diesel power plant in Bantayan Island, Cebu, while LPEC will develop a 16.4-MW power plant in Porac, Pampanga.

CREC, for its part, will also develop a hybrid power plant combining solar, battery and diesel in the islands of Culion and Linapacan in Palawan.

“One of our goals is to be the market leader in SPUG. But, over and above achieving that goal, this acquisition ties in with our environment, social and governance commitments – underserved or off-grid areas such as Coron, Bantayan, and Puerto Princesa, need stable and reliable power to drive local business growth,” Vivant Energy CEO Arlo Sarmiento said.

“We see ourselves as a strategic sustainability partner fueling our host communities’ social and economic development especially in areas like tourism, education, and eventually, being instrumental in opening the door of opportunities for more industries,” Sarmiento said.

Vivant Energy holds Vivant’s investments in energy generation, retail electricity supply and energy-related engineering solutions in Luzon, the Visayas and Mindanao.

Vivant is a listed holding and management company with interests in infrastructure development, mainly but not limited to various segments of the power value chain, to fulfill its mission of bringing excellence to industries that improve everyday living.