Vivant Energy, a subsidiary of Vivant Corporation, is planning on investing Php 21 billion in renewable energy (RE) projects as part of its goal of reaching an RE portfolio of 30% by 2030.
In a Philippine Star report, company president, Emil Andre Garcia, disclosed that the amount accounts for over 75% of the total capital expenditures until 2030.
Garcia mentioned that the company is exploring solar and wind technologies to help exceed its renewable energy target.
Vivant Energy recently completed the acquisition of San Ildefonso Alternative Energy Corporation, a company set to develop a 22-megawatt peak (MWp) solar power plant in Bulacan.
COREnergy, another subsidiary of Vivant Corporation, made a substantial contribution to the company’s RE target last year by expanding its rooftop solar business from 2MW to 6MW. It is now pushing to increase its capacity with the addition of 18 MW of solar rooftop generation by the end of this year.
By acquiring the shareholding of Gigawatt Power Inc in multiple power generation facilities, Vivant Energy reaffirms its dedication to fostering social and economic development in rural areas. The company aims to achieve this by delivering consistent and dependable electricity, particularly in off-grid regions.
Meanwhile, Vivant Energy is now the sole owner of Isla Mactan Power Corporation, which operates a 23.3-MW diesel power plant in Cebu, ensuring a consistent and dependable power supply.
