With the entry of Garcia-led Vivant Energy as equity partner into Bukidnon Power Corporation (BPC) and North Bukidnon Power Corp. (NBPC), electricity supply for consumers in Bukidnon province will be shored up.
In a statement to the media, Senator Juan Miguel Zubiri, who has been the original developer of the two power firms in the province, noted that Vivant’s foray into the province’s power generation business redounds to having “brought in energy experts with decades of experience and knowledge in the power value chain.”
He qualified that “with Vivant at the helm, BPC and NBPC will provide the reliability and quality of service that the region needs as we prepare ourselves for economic recovery.”
NBPC is supplying 5.0 megawatts that cater to the requirements for peaking power of the areas served by Bukidnon Second Electric Cooperative. That is sourced from a bunker-diesel power facility sited in Lantapan.
Additionally, BPC is the owner of two bunker-fired power plants that had had been signed up by First Bukidnon Electric Cooperative Inc., being the capacity off-taker, primarily to serve the requirements of its customers.
In February this year, Vivant Energy and its fully owned subsidiary Amberdust Holding Corporation acquired the shareholdings of BPC and NBPC via sealed share sale and purchase agreements (SSPAs); and that has been proffered as expansion point for the Garcia-led company in Mindanao.
According to Vivant Corporation Chairman and CEO Ramoncito E. Garcia, “our investment in BPC and NBPC is our contribution to the government’s efforts to achieve energy security in Mindanao, an area that is vital to the country’s economic recovery with its largely untapped potential.”
Prior to the Bukidnon venture, Vivant first injected equity investment in Minergy Power Corporation of the Abaya group, which generally caters to the power requirements of Cagayan de Oro, another bustling city in Mindanao.
Garcia emphasized their vision “is to bring excellence to industries that improve everyday living,” and for that, their company’s opportunity to power up Bukidnon “feels like a chance to give back.”
Beyond Mindanao, Vivant is also known as a major provider of energy services to off-grid areas, primarily in Palawan province; while continuously pursuing investments in Visayas especially in its home-province of Cebu.