Vivant plans to invest P37b in renewable energy and water sectors
By Alena Mae S. Flores – June 15, 2023, 8:40 pm
from manilastandard.net
Publicly-listed Vivant Corp. is looking at investing P37 billion in renewable energy and water sectors.
Vivant is investing P21 billion in renewable energy projects, making up more than 75 percent of total capital expenditures up to 2030.
Vivant Infracore Holdings Inc―which manages the Vivant Group’s investments in water solutions―plans to invest about P16 billion in several greenfield and brownfield opportunities in water resource utilization and wastewater engineering over the next five years.
Vivant chief executive Arlo A.G. Sarmiento said Vivant aimed to further strengthen its initiatives under the ESG framework to ensure the sustainability of its business endeavors and its communities as it celebrates its 20th anniversary this year.
“As we look back at the challenges and achievements that propelled us to continue to improve everyday living for the past 20 years, we put ESG at the forefront of our strategy to achieve long-term sustainable profits,” said Sarmiento.
Meanwhile, Vivant Energy is committed to playing a meaningful role in energy transformation and accelerating growth and improvement of power services in the country, Vivant president Emil Andre Garcia said during the company’s annual stockholders’ meeting.
He said the company was looking at wind and solar technologies to contribute to surpassing the company’s RE targets.
Garcia cited Vivant’s recent acquisition of San Ildefonso Alternative Energy Corp. which would develop a 22-megawatt solar power plant in Bulacan province.
Another fully-owned subsidiary, COREnergy, contributes to the RE target by growing its rooftop solar business from 2 MW to 6 MW in 2022.
COREnergy, a retail company that offers total energy solutions to commercial and industrial establishments, aims to add 18MW of solar rooftop generation capacity by the end of the year.
Vivant’s subsidiary Vivant Energy’s recent acquisition of the shareholding of Gigawatt Power Inc. in several power generation facilities 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 Bantayan Island, Cebu.
Sarmiento said that setting a target of 30-percent renewable energy for power generation portfolio by 2030 is aligned with the company environment, social and governance framework.
Sarmiento said taking an integrated approach to address the water shortage problem also aligns Vivant’s investments in water solutions with the ESG framework.
“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. 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,” said Vivant Infracore president and chief executive Jess Anthony Garcia.
Sarmiento said that by addressing environmental, social and governance factors head-on, Vivant does not only protect the company from potential risks “but also position ourselves as leaders in creating a more sustainable future.”
