Vivant subsidiary signs PSA with BANELCO
Vivant Corporation recently signed a Power Supply Agreement with the Bantayan Electric Cooperative. In the photo are (seated l to r) Banelco officials led by Board Director Maria Neriza Gigante, General Manager Lee Rivera, and Board President Oscar Seares; Emil Andre Garcia, Vivant Energy Corp. COO; Walden Tantuico, Gigawatt Power Inc. President; Arlo Angelo Sarmiento, Vivant Corporation Executive Vice President. | Contributed Photo
CEBU CITY, Philippines – A subsidiary of Vivant Energy Corporation signed last Monday, February 10, 2020, a 15-megawatt (MW) power supply agreement with the Bantayan Electric Cooperative (BANELCO) to address the need for a stable and reliable energy source in Bantayan Island, a growing tourism hub in northern Cebu.
Under the agreement, Isla Norte Energy Corporation—a consortium of Vivant Energy, Vivant Integrated Diesel Corporation and Gigawatt Power Inc. (GPI)—will install a 23.31-MW diesel-fired power plant in the town of Bantayan.
“We look forward to a happy partnership with Isla Norte in the next 15 years,” said BANELCO President Oscar Seares during the PSA signing.
Vivant Energy Corporation COO Emil Andre Garcia said that having a reliable source of energy is especially vital for the island’s economic growth and social development.
“We welcome this opportunity to contribute to the continued growth of Bantayan. Having a stable and reliable supply of energy is vital to the economic and social development of the community and we’re honored to be the one given this responsibility. We want to do good here because this is in our home, Cebu,” Garcia said.
“The service, commitment and reliability that our power plants provide in the distribution systems of electric cooperatives are more than satisfactory. This is something that we commit to BANELCO,” said GPI President Walden Tantuico.
Vivant Integrated Diesel Corporation is a wholly-owned subsidiary of Vivant Energy Corporation, which manages the investments of publicly listed Vivant Corporation in the energy sector. /dcb
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