A SUBSIDIARY of Vivant Energy Corp. signed on Monday, Feb. 10, 2020, a 15-megawatt (MW) power supply agreement with the Bantayan Electric Cooperative (Banelco) to address the need for a stable and reliable energy source in Bantayan Island, a growing tourism hub in northern Cebu.
Under the agreement, Isla Norte Energy Corp.—a consortium of Vivant Energy, Vivant Integrated Diesel Corp. and Gigawatt Power Inc. (GPI)—will install a 23.31-MW diesel-fired power plant in the town of Bantayan.
“We look forward to a happy partnership with Isla Norte in the next 15 years,” said Banelco president Oscar Seares during the signing.
“We welcome this opportunity to contribute to the continued growth of Bantayan. Having a stable and reliable supply of energy is vital to the economic and social development of the community and we’re honored to be the one given this responsibility. We want to do good here because this is in our home, Cebu,” said Vivant Energy Corp. chief operating officer Emil Andre Garcia.
“The service, commitment and reliability that our power plants provide in the distribution systems of electric cooperatives are more than satisfactory. This is something that we commit to Banelco,” said GPI president Walden Tantuico.
Vivant Integrated Diesel Corp. is a wholly owned subsidiary of Vivant Energy Corp., which manages the investments of publicly listed Vivant Corp. in the energy sector. (PR)