Cebu-based energy holding company Vivant Corp. is allocating P30 billion for capital expenditure (capex) in the next three to five years.
At a virtual media briefing on Thursday, Vivant CEO Arlo Sarmiento said the money will be used for projects “between now and 2025, 2026, 2027.”
Sarmiento said the company is also targeting to increase renewable energy’s share in its power portfolio to 30% by 2030.
“As we continue to grow the business, understanding our impact on the environment, economy and society is a key step in ensuring business sustainability for Vivant,” he said.
In a separate news release, Vivant said its units Buskowitz and Corenergy’s solar solutions contribute to the company’s goal of reaching a 30% renewable energy portfolio by 2030.
The company is also banking on the increase in demand for energy solutions, particularly solar rooftop, as more consumers see the need to better manage their energy-related costs.
Vivant president Emil Andre Garcia said the onslaught of super typhoon Odette last December, which caused prolonged power outages due to damaged power infrastructure, has raised awareness of the benefits of solar energy.
In 2021, Vivant reported a net income of P1.8 billion, up 23% from P1.4 billion in 2020, on the back of improved performance of its subsidiaries, particularly in power, amid better generation output and increased business activities.
Since 2019, Vivant said it has been reporting its sustainability performance using the Global Reporting Initiatives (GRI) standards. In its 2021 Sustainability Report, Vivant identified eight sustainable development goals that include affordable and clean energy. —VBL, GMA News
Vivant Corp. allots P30 billion for capex in next 3-5 years
Source: News Panda Philippines
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