Delta P, Incorporated (Delta P)

Established in 1997, Delta P is an independent power producer in Palawan operating a 16CMW 4 bunker-fired power plant with four (4) units of 4CMW generator sets. In March 2007, Gigawatt Power Inc. (GPI) acquired the 100% interest of Wärtsilä Technology Oy Ab in DPI. In June 2007, GPI divested and sold a 20% equity stake in DPI to Vivant. Through wholly owned subsidiary VEC, Vivant’s equity stake increased to 35% in October 2007 through an additional share acquisition from GPI.
The power plant facility of DPI is located on a 25,981 sq.m. parcel of land leased from the City Government of Puerto Princesa at Kilometer 13, North National Highway, Barangay Santa Lourdes, Puerto Princesa, Palawan. Commercial operations started in May 1997 by virtue of a Lease Agreement with the National Power Corporation (NPC), which was scheduled to expire in April 2009. The power generated by the plant served the electricity requirements of the Palawan Electric Cooperative (PALECO).
On February 6, 2009, DPI and PALECO signed a PSA for DPI to directly supply PALECO’S power requirements for the next 10 years. DPI and PALECO filed a joint petition with the Energy Regulatory Commission (ERC) for the approval of the PSA, which the latter granted on November 9, 2009.