(UPDATED) - Listed Cebu-based energy firm Vivant Corporation on Thursday, June 21, said it plans to invest P3.3 billion in various projects between 2018 and 2020 as it continues to focus on the off-grid small power utilities group (SPUG) sector.
The company has invested in a 2.68-megawatt (MW) hybrid power plant being built by Sabang Renewable Energy Corporation (SREC) as well as in a 6.07-MW renewable hybrid project contracted to the Busuanga Island Electric Cooperative (Biselco). Both projects are in Palawan.
The company will also participate in the construction of a 670-MW coal-fired power plant in La Union, Arlo Sarmiento, Vivant executive vice president and COO, said during the company's annual stockholders' meeting Thursday in Cebu City.
The facility, which will be built by the Global Luzon Energy Development Corporation (GLEDC), is in the pre-development stage.
"The off-grid SPUG market continues to be a priority growth area for Vivant," Sarmiento said.
"By investing in projects like these, we fulfill our commitment to contribute to the inclusive growth of Filipino communities around the country," he added.
The SREC project is being undertaken in Puerto Princesa, Palawan, where the Underground River is situated. It will consist of a solar/battery system and diesel-fired generators.
"Our target is to produce 50 percent from the solar/battery system," said Emil Garcia, Vivant vice president for operations. Vivant holds a 30-percent equity in SREC.
The other hybrid power project through Culion Renewable Energy Corporation (CREC) is located in Culion and Linapacan in northern Palawan.
The company will also be looking at other islands in the Visayas, which are still being powered by generators operated by the National Power Corporation, Sarmiento said.
Aside from investing in utility-scale generation projects, Vivant is also building its solar rooftop business through ET Vivant Solar, a partnership with the local unit of China-based ET Energy that aims to serve commercial and industrial users with a minimum requirement of 100 kilowatts.
Mark Habana, vice president for commercial affairs, said they have signed contracts to supply 9 MW to 12 customers in Bulacan, Isabela and Cebu. The target this year is to increase the contracted supply to 10 MW, he added. (Marites Villamor-Ilano/SunStar Philippines)