Cebu-based energy and water conglomerate Vivant Corporation (VVT) has earmarked P30 billion in capital expenditure over the next five years to expand its energy and water plants across the Philippines.
In a report by the Philippine Star, Vivant CEO Arlo Garcia Sarmiento disclosed that the majority of the five-year capex, or Php 22 billion, will be dedicated to enhancing its power generation capacity, with approximately Php 15 billion allocated for developing renewable energy plants.
The publicly-listed company reported a 43 percent year-on-year increase in its bottom line for 2023, driven largely by the robust performance of its energy strategic business unit, Vivant Energy Corporation (Vivant Energy).
The energy unit contributed a total income of Php 3.1 billion, marking a 36 percent rise from the previous year.
According to Sarmiento, 2023 was another exceptional year for the company, noting it as their second-best year ever.
The Vivant CEO said that they anticipate continued growth this year.
In 2023, Vivant expanded its investments in the small power utilities group (SPUG), significantly increasing its attributable installed capacity from 35 megawatts (MW) to 63MW.
Last year, Vivant completed its acquisition of San Ildefonso Alternative Energy Corp. (SIAEC), marking Vivant Energy’s first utility-scale solar power generation facility in Bulacan with a total capacity of 22 MW.
In the same year, Vivant entered the wind energy sector through a partnership with Aboitiz Renewables and Vena Energy to develop a 206 MW wind farm in San Isidro, Northern Samar, expected to be completed by the second quarter of 2025.
Vivant Energy President Emil Andre Garcia said that the company is dedicated to creating solutions for energy transformation and enhancing the energy services in the country.
