Cebu Private Power Corporation (CPPC)
Incorporated on July 13, 1994, Cebu Private Power Corporation (CPPC) owns and operates one of the largest diesel power plants in the island of Cebu – the 10 Caterpillar-Mak-powered 70MW Bunker C-fired power plant situated on a 1.8 hectare in the old VECO compound at Bgy. Ermita, Cebu City.
Commissioned in 1998, the CPPC plant was constructed pursuant to a build-operate-transfer (BOT) contract to supply 62 MW of power to VECO. The CPPC plant will revert to VECO in November 2013.
On April 20, 2007, AP acquired from EAUC 60.0% of the outstanding common shares of CPPC. The remaining 40.0% of the outstanding common shares was acquired by Vivant Energy Corporation of the Garcia family of Cebu, who together with AP, are the major shareholders of VECO. VECO owns all of the outstanding preferred shares of CPPC, which comprises approximately 20.0% of the total outstanding capital stock of CPPC. AP and Vivant Energy Corporation executed a shareholders’ agreement that governs their relationship with regard to CPPC.
CPPC as an energy company recognizes the impact may have on society and on the environment. Aside ensuring that its generation and distribution facilities are operated efficiently and in a manner that meets government-promulgated environmental standards, CPPC is committed to ensuring that the communities where it operates also benefit and develop together with the Company.
To this end, the Company sponsors on a consistent-basis community development projects in partnership with local government units and other local stakeholders to help address the economic, socio-cultural, health, education and environmental concerns of these communities.
Incorporated on July 13, 1994, Cebu Private Power Corporation (CPPC) owns and operates one of the largest diesel power plants in the island of Cebu – the 10 Caterpillar-Mak-powered 70MW Bunker C-fired power plant situated on a 1.8 hectare in the old VECO compound at Bgy. Ermita, Cebu City.
Commissioned in 1998, the CPPC plant was constructed pursuant to a build-operate-transfer (BOT) contract to supply 62 MW of power to VECO. The CPPC plant will revert to VECO in November 2013.
On April 20, 2007, AP acquired from EAUC 60.0% of the outstanding common shares of CPPC. The remaining 40.0% of the outstanding common shares was acquired by Vivant Energy Corporation of the Garcia family of Cebu, who together with AP, are the major shareholders of VECO. VECO owns all of the outstanding preferred shares of CPPC, which comprises approximately 20.0% of the total outstanding capital stock of CPPC. AP and Vivant Energy Corporation executed a shareholders’ agreement that governs their relationship with regard to CPPC.
CPPC as an energy company recognizes the impact may have on society and on the environment. Aside ensuring that its generation and distribution facilities are operated efficiently and in a manner that meets government-promulgated environmental standards, CPPC is committed to ensuring that the communities where it operates also benefit and develop together with the Company.
To this end, the Company sponsors on a consistent-basis community development projects in partnership with local government units and other local stakeholders to help address the economic, socio-cultural, health, education and environmental concerns of these communities.