Vivant Corp. subsidiary Vivant Energy is acquiring the shares of partner Gigawatt Power Inc. in companies they own in off-grid areas.
The acquisition widens Vivant Energy’s investment in off-grid power plants to 63.3 megawatts (MW) of installed capacity from only 35.2 MW.
Vivant said Gigawatt Power Inc. owns 50 percent in Delta P Inc., Calamian Islands Power Corp. (CIPC), La Pampanga Energy Corp. (LPEC) and Culna Renewable Energy Corp. (CREC) and 35 percent in Isla Norte Power Corp.
“This investment is aligned with our goal to strengthen our contribution to energy security. We will continue to look for opportunities to support sustainable development, especially in off-grid areas and communities where having reliable and stable power is crucial to social and economic development,” said Emil Andre Garcia, Vivant Energy president and chief operating officer.
Garcia said Delta P owns a 31.1 MW bunker-fired power plant in Puerto Princesa City, Palawan while CIPC owns a 7.35 MW bunker-fired power plant in Coron and a 0.91-MW diesel power plant in Busuanga.
Isla Norte operates a 23.3 MW diesel power plant in Bantayan Island, Cebu as LPEC plans to develop a 16.4 MW power plant in Porac, Pampanga while CREC is developing a hybrid power plant combining solar, battery and diesel in the islands of Culion and Linapacan in Palawan.
Vivant’s energy capacity of around 382 MW makes it among the largest power providers in off-grid areas.
