PAMPANGA II Electric Cooperative, Inc. (PELCO II) has awarded a 15-year power supply agreement to Vivant Energy Corp. and Gigawatt Power Inc. to supply 15 megawatts (MW) of the electric utility’s peaking requirements.
These were the results of PELCO II’s successful competitive selection process, a regulatory filing made by Vivant Energy’s parent firm Vivant Corp. on Tuesday showed.
Vivant Energy will own 50% equity in the embedded power plant project, which would “contribute to the company’s growth in the power generation sector.”
Last July, Vivant Energy announced that Isla Norte Energy Corp., its joint venture with Gigawatt Power, has tapped Finnish firm Wärtsilä to provide engineering and equipment for a 23-MW power plant that would supply power to Bantayan Island, Cebu.
Shares of Vivant climbed by 4.17% to close at P15 apiece on Tuesday. — A.Y. Yang