VIVANT Integrated Diesel Corp. (VIDC), a wholly-owned subsidiary of Vivant Energy Corp. (VEC), was awarded a 15-year power supply contract by Bantayan Island Electric Cooperative Inc. (Banelco).
VIDC is a wholly-owned subsidiary of VEC and Gigawatt Power Inc.
VEC is a subsidiary of listed firm Vivant Corp.
“Vivant Corp. was given notice of the award of the contract by its wholly-owned subsidiary, Vivant Energy,” it reported.
Under the power supply agreement, VIDC will supply 15 megawatts (MW) to Banelco to keep up with the growing demand in the island.
“Banelco concluded a successful competitive selection process by awarding a 15-year contract to supply 15 MW of the island’s energy requirements to the joint venture of VIDC. The project will add to the capacity of Vivant Energy, as it continues to focus its growth in the off-grid small power utilities group [Spug] sector,” Vivant said.
VIDC and Banelco will soon sign the power deal. After which, they will seek approval from the Energy Regulatory Commission (ERC) to implement the power supply agreement.
Banelco said peak demand for mainland Bantayan grew by 6 percent in 2018. Demand is expected to grow by 10 percent annually from 2019 onward.
By 2027, Banelco’s power demand is forecast to reach 13 MW, almost three times more than its present capabilities.
VEC is known for being the first to operate a smart hybrid power plant facility in an off-grid area through the Sabang Renewable Energy Corp. (SREC) and the first New Power Provider (NPP) in Palawan through Delta P Inc.
Overall, the VEC is one of the largest power providers in Spug areas. with a diverse portfolio of over 40 MW.
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(Published in Business Mirror, 4 November 2019)
