CEBU-BASED Vivant Corp. announced that a unit of its energy-related company Vivant Energy Corp. will supply 40 megawatts of power to Palawan.
Delta P, Inc., a subsidiary of Vivant Energy Corp., secured a 15-year power supply agreement (PSA) with Palawan Electric Cooperative, Inc. (Paleco) for the power supply, Vivant said in a statement on Tuesday.
Paleco emerged as the winning bidder following the competitive selection process through the National Electrification Administration.
“We are delighted to announce the signing of this PSA with Delta P, Inc. to ensure we meet Palawan grid’s need for reliable and sustainable power supply; a long-term solution to help Palawaneños regain their subsidy,” Paleco General Manager Rez L. Contrivida said.
The electric cooperative’s move to secure a reliable source meets the growth of the region’s accommodation and food services sectors, Vivant said. The deal aims to provide consistent power supply required to support growth in these industries, as well as in local communities.
“This PSA is vital in ensuring stability, fostering innovation, driving long-term growth — giving us the foundation to plan, build, and deliver lasting solutions,” DPI President Eric Omamalin said.
“Looking ahead, this partnership inspires us to innovate further, enhance our services, and continue powering progress for the next 15 years and beyond,” he added.
For the third quarter, Vivant posted an attributable net income of P788.3 million, higher by 36% from P578.88 million a year ago.
The company’s gross revenues grew by 54% to P3.28 billion from last year’s P2.13 billion. — Sheldeen Joy Talavera
