Vivant Corp. is optimistic about the expansion of its renewable energy (RE) footprint as well as its water business this year after recording a 43- percent increase in net income last year.
“Vivant remains bullish in sustaining our growth in the power generation and electricity distribution sector as well as in the water infrastructure segment. We will continue to play a pivotal role in transitioning to more renewable energy sources and work towards a more sustainable and environmentally friendly future,” said Arlo Sarmiento, Vivant Corp. chief executive officer, in a statement.
Vivant Corp. booked a 2.3 billion net income in 2023 from P1.6 billion in 2022.
Vivant Energy Corp., the company’s energy strategic business unit (SBU) was the major contributor due to strong results from both on-grid and off -grid business segments.
Vivant Energy also expanded its off-grid portfolio in 2023 by consolidating ownership in facilities located in Puerto Princesa, Palawan through Delta P Inc. as well as in Coron and Busuanga, Palawan via Calamian Islands Power Corp. and in Bantayan Island, Cebu made through Isla Norte Power Corp.
The acquisitions resulted in an expanded investment in the Small Power Utilities Group (SPUG) from 35 megawatts (MW) to 63 MW, nearly doubling Vivant Energy’s attributable installed capacity in the segment.
SPUG power plants nationwide are mostly diesel-fired generator sets located in remote areas and are not connected to the main grid.
The company also acquired last year a solar facility in Bulacan through San Ildefonso Alternative Energy Corp. and the signing of a joint venture agreement with Vena Energy and Aboitiz Renewables Inc. for the construction of a wind farm in Samar, Leyte.
Completion of these projects will increase Vivant Energy’s attributable capacity by 22 MW this year and 62 MW in 2025.
Vivant’s power distribution business segment also posted a positive recovery in 2023 driven by a 12 percent surge in electricity sales for the year, with both residential and non-residential markets posting healthy consumption growth.
