Vivant denies having unpaid dues to PSALM

By Alena Mae S. Flores – February 25, 2020 at 08:50 pm
from manilastandard.net

Listed Vivant Corp. said Tuesday it has no delinquent account with the government and is no longer related to Vivant-Sta. Clara Northern Renewables Generation Corp., or Northern Renewables.Vivant said

Vivant-Sta. Clara was a remnant of its previous engagement with Northern Renewables as the company sold its 48-percent stake in October 2018.

“That said, we are not connected to the Bakun hydroelectric power plant in Bakun, Alilem, Ilocos Sur. That project is fully-owned by Northern Renewables. We have no delinquent accounts with PSALM,” Vivant said.

Vivant issued the clarification after the Finance Department and Power Sector Assets and Liabilities Management Corp. issued pronouncements they were seeking to collect P4.19 billion in unpaid dues from Vivant-Sta. Clara, which administers the independent power producer administrator agreement for the 70-megawatt Bakun hydro power plant in Ilocos Sur.

PSALM said it was expecting to collect additional payments from Northern Renewables this year in view of a settlement agreement they submitted to the court.

Vivant said the company and its subsidiaries Vivant Energy Corp. and Vivant Renewable Energy Corp. were not connected with Vivant – Sta. Clara.

Vivant also said they were “fully compliant and up to date with all our payments.”Vivant, incorporated on May 28, 1990, through subsidiaries and affiliates, has interests in various companies engaged in electric power generation (renewable and non-renewable energy), electric power distribution and retail electricity supply business. Alena Mae S. Flores

The Garcia-Escaño family of Cebu owns the majority stake in the company.