Cebu-based Vivant Energy Corporation will be investing around Php5 billion for expansion projects to be finalized until 2023, targeting both renewable energy (RE) and conventional power technologies.
Vivant President Arlo Sarmiento noted that for this year alone, the company will earmark Php3 billion in capital expenditures (capex) for both renewable and conventional power projects, a sharp increase from last year’s capital spend of Php500 million to Php1 billion.
The firm clarified, though, in a disclosure to the Philippine Stock Exchange that the Php3 billion capex includes the construction of the 15-megawatt (MW) power plant that will supply peaking power with ancillary service capability for the Pampanga II Electric Cooperative and investments in Buskowitz Finance, Inc. — a solar engineering, procurement, and construction firm, Bukidnon Power Corporation (BPC), and North Bukidnon Power Corporation (NBPC). BPC and NBPC were owned by Sen. Juan Miguel Zubiri.
Aside from greenfield power installations, Garcia said the company is in the process of evaluating several asset acquisitions, including prospects in solar and wind farm ventures in areas of Luzon and Visayas.
Vivant Energy’s another high point on the investment trajectory is on solar rooftop installation, with a project funding worth $30 million for this year.
Garcia said they will be ending the year with 10-11MW of installed capacity for rooftop solar systems, with another 13MW in the pipeline expected to go online by 2022.
Vivant has set a goal of expanding its portfolio to 500MW by 2023 or at least by 100MW over the next three years. This, though, is a working target and will still depend on the projects that will be firmed up upon the result of the company’s investment evaluation process.
Currently, the firm has 385MW of power generation capacity, 95% of which uses conventional platforms such as diesel-fired and coal-fed generators.