MANILA, Philippines — Vivant Energy, a subsidiary of publicly listed Vivant Corp., is looking to invest P21 billion in clean energy projects as part of its goal of reaching a 30 percent renewable energy portfolio by 2030.
Company president Emil Andre Garcia said the amount makes up more than 75 percent of total capital expenditures up to 2030.
“Vivant Energy is committed to play a meaningful role in energy transformation and to accelerate growth and improvement of power services in the country,” Garcia said.
He said the company is looking at wind and solar technology to contribute to surpassing its renewable energy target.
Vivant Energy recently acquired San Ildefonso Alternative Energy Corp., which will develop a 22-megawatt peak (MWp) solar power plant in Bulacan.
Another fully owned subsidiary, COREnergy, contributes to the company’s renewable energy target by expanding its rooftop solar business from two MW to six MW last year.
COREnergy, a retail company that offers total energy solutions to commercial and industrial establishments, aims to add 18 MW of solar rooftop generation capacity by the end of the year.
Vivant Energy’s recent acquisition of the shareholding of Gigawatt Power Inc. in several power generation facilities, on the other hand, supports the group’s commitment to contribute to the social and economic development in the countryside by providing stable and reliable power primarily in SPUG or off-grid areas.
Vivant Energy now has full ownership of Isla Mactan Power Corp., which operates the 23.3-MW diesel power plant that provides stable and reliable power in Cebu.
The company holds Vivant’s investments in energy generation, retail electricity supply and energy-related engineering solutions in Luzon, Visayas and Mindanao.
Meanwhile, Vivant Infracore Holdings Inc., which manages the Vivant group’s investments in water solutions, is looking to invest about P16 billion on several greenfield and brownfield opportunities in water resource utilization and wastewater engineering over the next five years.
Vivant said these opportunities would help many areas in the country address not only water supply challenges, but the threat posed by untreated wastewater on vital ecosystems.
“Our success in this sector will allow us to meet the group’s sustainability objectives and meaningfully support efforts to improve the lives of our fellow Filipinos,” Vivant Infracore president and CEO Jess Anthony Garcia said.
“With the help of all our stakeholders, we can drive meaningful change and create a future where access to clean water, improved sanitation, and environmental sustainability is a reality for all,” he said.
Vivant is a listed holding and management company with interests in infrastructure development, mainly but not limited to various segments of the power value chain.