Metro Manila (CNN Philippines, June 16) — Publicly listed Cebuano company Vivant Corp. is allotting ₱30 billion in capital expenditure for the next few years as it plans to increase its presence in renewable energy (RE) market.
Vivant chief executive officer Arlo Sarmiento said in a virtual briefing the ₱30-billion investment would finance projects that will be launched “between now and 2025, 2026, 2027”.
The majority or ₱25 billion of the earmarked spending would go to RE projects including wind, hybrid, and solar energy infrastructure. The remaining amount would be allocated to boost the water supply in the province.
In a statement, the company said it is targeting to hit a 30% RE portfolio by 2030.
As consumers become conscious about their electric-related expenses, Vivant said it is witnessing a “growing” demand for adaptable energy solutions that include rooftop solar system.
“We expect growth in the sector as industries adapt to the changed landscape and see the value of the adaptable energy solutions that Corenergy provides,” Vivant president Emil Andre Garcia was quoted as saying in the statement. Corenergy is a fully-owned subsidiary of Vivant.
Vivant’s profit in 2021 went up 23% to ₱1.8 billion against the ₱1.4 billion booked a year ago.
