VIVANT Energy is increasing its investment in power plants operating off-grid areas as it recently acquired shares from its partner Gigawatt Power Inc.
A wholly-owned subsidiary of publicly listed Vivant Corp., Vivant will obtain shares of Gigawatt Power, which owns 50 percent in Delta P Inc., Calamian Islands Power Corp. (CIPC), La Pampanga Energy Corp. (LPEC), Culna Renewable Energy Corp. (CREC), as well as 35 percent in Isla Norte Power Corp. (Isla Norte).
The acquisition expands Vivant Energy’s investment in the small-power utilities group (SPUG) from 35.2 megawatts to 63.3 MW in attributable installed capacity.
Vivant Energy president Emil Andre Garcia said the investment is aligned with the company’s goal of strengthening 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 [key to socioeconomic] development.”
Delta P owns a 31.1-MW bunker-fired power plant in Puerto Princesa City, Palawan. On the other hand, CIPC maintains the same kind with a 7.35-MW output 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.
For its part, CREC will 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,” said Vivant Energy CEO Arlo Sarmiento. “But, over and above achieving that goal, this acquisition ties-in with our Environment, Social and Governance [or ESG commitments on underserved or off-grid areas, such as Coron, Bantayan and Puerto Princesa which] need stable and reliable power to drive local business growth.”
Vivant Energy holds Vivant Corp.’s investments in energy generation, retail electricity supply and energy-related engineering solutions in Luzon, the Visayas and Mindanao.
“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,” added Sarmiento.