MANILA — Vivant Corporation (Vivant) is eyeing for P67 billion worth of new power generation projects in the country for the next three years.
Vivant’s chief operating officer Arlo Sarmiento said in a statement that the move is “deemed part of the solution for the worsening power problems in Visayas and Mindanao.”
“Vivant is always looking for opportunities to expand its generation portfolio. Starting 2015 up to 2018, the group expects to invest in power generation projects that involve construction of new facilities with total capacity of over 450 MW worth roughly P67 billion,” Sarmiento said.
The project is deemed to produce 51 percent increase in the attributable generation capacity once the projects are completed by 2018, according to Sarmiento.
The company has invested more than P1.6 billion in equity investments including the acquisition of 40 percent equity in Minergy Power Corporation (MPC) and 20 percent in Therma Visayas Inc. (TVI).
“MPC is currently constructing a 3 x 55-MW coal-fired power generation facility in Misamis Oriental. Its completion by year-end 2017 should provide a new and stable source of power for Mindanao. TVI, in the meantime, has broken ground on a 300-MW coal-fired power generation facility in Toledo City, Cebu.
“The project consists of two units, with the first one expected to be completed by end 2017, to be followed by the second unit three months after,” Sarmiento said.