LISTED Cebu-based energy and water conglomerate Vivant Corp. said it plans to invest P15 billion for its renewable energy (RE) projects until 2030.
“To achieve our growth plans, our total equity investment requirement up to year 2030 is projected to reach P22 billion. Out of this, we target to earmark P15 billion for various renewable energy projects,” Vivant Energy President Emil Andre M. Garcia said in a disclosure on Thursday.
Vivant Chief Executive Officer Arlo Angelo G. Sarmiento said that the company sees a continued growth for 2024 after sustaining its revenue and operating income amounting to P2.3 billion in 2023.
“We are extremely proud of how we’ve been able to move the country forward with our significant investments in energy and water,” Mr. Sarmiento said.
The company’s water strategic business unit Vivant Infracore Holdings, Inc., with the brand name Vivant Water, recently had the first water out of the first skid or train of its utility-scale seawater desalination facility in Isla Mactan-Cordova Corp.
The Cebu desalination plant can produce 20 million liter per day of water. Its construction is now estimated at 90% and will be fully operational before the end of the year, Vivant said.
To date, Vivant Water has invested P2 billion in water infrastructure.
Vivant Water President and Chief Operating Officer Jess Anthony N. Garcia said that the company is expecting a total investment of about P8 billion over the next five years.
“While we remain focused in the near team to our home market of Cebu and other identified locations, we ultimately aim to be a major player in the water sector with operations in the country,” Mr. Garcia said.
At the local bourse on Thursday, shares in the company fell by P4.72 or 29.5% to close at P11.28 each. — Sheldeen Joy Talavera
