^
Vivant bullish on recovery, pursues expansion plans
As it continues to expand its conventional energy generation portfolio, Vivant Energy has also taken firm steps in finding brownfield and greenfield renewable projects.
Photo from the web

Vivant bullish on recovery, pursues expansion plans

Ehda M. Dagooc (The Freeman) - February 25, 2021 - 12:00am

CEBU, Philippines —  Cebu-based Vivant Energy Corporation pursues expansion plans expressing confidence of the country’s recovery.

“We are confident in the recovery and growth of the Philippine economy,” said Vivant Energy EVP and COO Emil Andre M. Garcia following the company’s announcement to expand its investments in Mindanao.

Vivant is acquiring equity interest in Bukidnon Power Corporation (BOC) and North Bukidnon Power Corporation (NBPC) of Senator Juan Miguel Zubiri.

“We believe that Mindanao will play a more significant role in it [country’s recovery and growth]. That growth will require a stable and reliable power supply, which we are committed to provide,” Garcia added.

BPC and NBPC was developed by the Mindanaoan senator to address the intermittent brownouts that was plaguing the region at that time.

The publicly-listed Vivant Energy and its wholly owned subsidiary Amberdust Holding Corporation (AHC) will acquire 90 percent of the outstanding shares of BPC and NBPC from its existing shareholders through share sale and purchase agreements.

The investment aims to further ensure stability and reliability of the power supply in Bukidnon Province, particularly during peak hours.

“The acquisition and the subsequent partnership with Vivant Energy would greatly boost the efficiency of energy production for our province and the region," said Sen. Zubiri.

NBPC supplies 5MW of the peaking power requirement in the franchise area of Bukidnon Second Electric Cooperative, Inc. through its bunker-diesel power plant in Lantapan. Bukidnon BPC owns the two bunker-diesel power plants that are both contracted to supply the energy requirements of First Bukidnon Electric Cooperative, Inc.

As it continues to expand its conventional energy generation portfolio, Vivant Energy has also taken firm steps in finding brownfield and greenfield renewable projects, as well as in technologies that combine both renewable and conventional energy.

VIVANT ENERGY CORPORATION
Philstar
  • Latest
Latest
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with