Cebu City – Chinese clean energy developer and operator ET Solar and Philippine energy solutions provider Vivant Corporation entered in a joint venture (JV) agreement to develop solar power plants that will provide lower electricity rates to the end-user.
Through the joint venture firm ET Vivant Solar (EVC), the two energy companies will complement and expand their respective expertise in technology, project development, operations, power generation, and retail electricity supply.
EVC will be dedicated to providing turn-key solutions through Power Purchase Agreements (PPAs), covering every step of a solar plant’s life cycle, helping businesses secure savings on electricity payments and insulating them against price surges for over 20 years, the two companies said in a joint statement.
“Our global experience in project development and operations is a perfect match with Vivant’s energy delivery experience. We are ideal partners to help Filipino businesses get their own solar rooftop power plants through customized PPAs,” said Dennis She, President and CEO of ET Energy.
For commercial and industrial sites across the Philippines, the investment in solar provides a tailored, cheaper and better alternative to regular utility power sources.
Arlo G. Sarmiento, Chief Operating Officer of Vivant Corporation, said the Vivant group of companies has made a mark with its breadth of offers, being one of the few Filipino companies with investments in distribution, generation, and retail in the energy sector.
“Our partnership with ET Energy allows us to add a new option to the solutions we offer our customers, partners, and communities, allowing us to be more adaptable to the changing needs in the market,” he said.
Earlier, the Cebu-based listed energy firm announced that it will continue to look for possible renewable investments to keep 10 percent of its portfolio allocated to renewable.
Sarmiento said the company’s board has mandated officials to maintain at least 10 percent of the total portfolio to renewable.
“We currently exceed that percentage but the challenge is how to keep that 10 percent moving forward,” Sarmiento said.
By Mars Mosqueda Jr.