November 21, 2024 | 12:00am
MANILA, Philippines — Vivant Corp., a listed energy and water conglomerate, has secured a multi-year supply contract with Palawan Electric Cooperative (PALECO) to meet the rising power demand on the island province.
Delta P. Inc. (DPI), a subsidiary of Vivant Energy Corp., has formalized a 15-year power supply agreement (PSA) involving 40 megawatts of contracted capacity.
PALECO general manager Rez Contrivida said the PSA is expected to help maintain the reliability and stability of the Palawan grid, providing a long-term solution for Palawaneños to regain their subsidy.
Amid the increase in Palawan’s accommodation and food services sectors as of end-2023, this agreement also aims to ensure consistent power supply needed to support growth in these industries.
“Looking ahead, this partnership inspires us to innovate further, enhance our services and continue powering progress for the next 15 years and beyond,” DPI president Eric Omamalin said.
DPI offered the best bid at the competitive selection process conducted through the National Electrification Administration.
NEA administrator Antonio Mariano Almeda, for his part, said the supply deal demonstrated the agency’s support to electric cooperatives that “face challenges in completing their power procurement process.”
“NEA is here to ensure no cooperative is left behind, especially with the welfare of members-consumers-owners at stake,” Almeda said.
In the first nine months, Vivant reported an attributable net income of P1.7 billion, down by 15 percent from the same period last year’s P2 billion that included one-time gains.
Vivant CEO Arlo Sarmiento is still expecting the Cebu-based conglomerate to “close the year strong”
Vivant intends to build a robust project pipeline that will cater to the growing power demand in areas it operates in and address the needs in newly identified underserved locations.
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