Vivant, led by the Garcia-Escaño family, is making significant strides in bolstering its footprint in off-grid regions of the country.
The publicly-listed company, through its subsidiary Vivant Energy Corp., is set to acquire shares of partner Gigawatt Power Inc. in five companies that own power plants primarily catering to off-grid areas.
Among the notable acquisitions is Gigawatt Power’s 50 percent share in Delta P Inc., the owner of a 31.1-megawatt (MW) bunker-fired power plant in Palawan.
Vivant Energy will also acquire stakes in Calamian Islands Power Corp., which operates a 7.35-MW bunker-fired power plant in Coron and a 0.91-MW diesel power plant in Busuanga.
Apart from this, Vivant Energy will purchase Gigawatt Power’s 50 percent ownership in La Pampanga Energy Corp., a company currently in the process of developing a 16.4-MW power plant in Pampanga.
Culna Renewable Energy Corp., another beneficiary of the acquisition, is poised to develop a hybrid power plant that integrates solar, battery, and diesel technologies in the islands of Culion and Linapacan in Palawan.
Lastly, Vivant Energy will acquire a 35 percent stake in Isla Norte Power Corp., which operates a 23.3-MW diesel power plant in Bantayan Island, Cebu.
With these strategic acquisitions, Vivant Energy’s investment in small power utilities groups (SPUG) will increase its attributable installed capacity from 35.2 MW to an impressive 63.3 MW. This expansion aligns with the company’s objective of becoming a market leader in the SPUG segment.
Vivant Energy CEO Arlo Sarmiento said the acquisition aligns with the company’s commitment to environment, social, and governance (ESG) principles. The off-grid areas, such as Coron, Bantayan, and Puerto Princesa, will benefit from the stable and reliable power supply, fueling local business growth and fostering social and economic development.