Vivant to pursue expansion plans this year

CEBU, Philippines - Vivant Corporation plans to take an aggressive expansion move starting this year to take advantage of the privatization of the government generating assets.

During the company’s Stockholders Meeting held yesterday at the Cebu Country Club, company officials said that Vivant will be participating in PSALM’s bidding for the 640 MW Unified Leyte Geothermal Plant and the 110 MW Naga Power Plant Complex.

Vivant Corporation ended 2009 with consolidated revenues of P349 million and consolidated net income of P269 million.

The distribution business contributed 61 percent while the generation business contributed 39 percent to the total revenues.

Likewise, total consolidated assets stood at P4.2 billion in 2009, up by 10 percent from last year’s P3.8 billion.

With the increased margins of Visayan Electric Co., Inc. (VECO) and Delta P, Inc. and the commercial operation of Cebu Energy Development Corporation (CEDC), the company is projecting better performance in 2010.

Vivant has been aggressively investing in the generation sector of the industry. In December 2009, it won the bid for the appointment of an administrator of the combined 100 MW capacities of the 70 MW Bakun hydro plant in Ilocos Sur and the 30 MW Benguet hydro plant complex in the Cordillera Administrative Region.

Vivant Corporation is a holding company with investments in various projects in the power generation and distribution sectors.

Through its wholly owned subsidiary Vivant Energy Corporation (VEC), the Company has 35 percent interest in Delta P, Inc., an independent power producer based in the island of Palawan. VEC also owns 40 percent of Cebu Private Power Corporation another independent power producer located in Cebu City.

In addition to investments in the power generation sector, the Company directly owns 22 percent of the Visayan Electric Company, Inc. It also directly holds 50.88 percent in Hijos de F. Escaño, Inc. The company wholly owns VC Ventures Net, Inc.