Publicly listed Vivant Corporation is investing the bulk of its capital expenditures budget in renewable energy projects as it strengthens its initiatives under the environment, social and governance (ESG) framework to ensure the sustainability of its business endeavors.
During the firm’s Annual Stockholders’ Meeting, Vivant President Emil Andre M. Garcia announced that subsidiary Vivant Energy is looking at investing P21 billion on renewable energy projects, making up more than 75 percent of total capex up to year 2030.
As the firm celebrates its 20th anniversary this year, Vivant Corporation CEO Arlo A.G. Sarmiento said “we put environmental, social and governance (ESG) at the forefront of our strategy to achieve long-term sustainable profits.”
He added that, setting a target of 30 percent renewable energy for power generation portfolio by 2030 is aligned with the ESG framework.
Taking an integrated approach to address the water shortage problem also aligns our investments in water solutions with the ESG framework, Sarmiento noted.
For its renewable energy investments, Garcia cited the recent acquisition of San Ildefonso Alternative Energy Corporation, which will develop a 22-megawatt peak (MWp) solar power plant in Bulacan.
Another fully owned subsidiary, COREnergy, contributes to the RE target by growing its rooftop solar business from 2 MW to 6 MW in 2022.
COREnergy, a retail company that offers total energy solutions to commercial and industrial establishments, aims to add 18MW of solar rooftop generation capacity by the end of the year.
“Vivant Energy is committed to play a meaningful role in energy transformation and to accelerate growth and improvement of power services in the country,” Garcia said noting the company is looking at wind and solar technology to contribute to surpassing its RE target.
Vivant Energy’s recent acquisition of the shareholding of Gigawatt Power Inc. in several power generation facilities supports the group’s commitment to contribute to the social and economic development in the countryside by providing stable and reliable power primarily in SPUG or off-grid areas.
The firm now has full ownership of Isla Mactan Power Corporation, which operates the 23.3-MW diesel power plant that provides stable and reliable power in Bantayan Island, Cebu.
Meanwhile, Vivant Infracore Holdings Inc. – which manages the Vivant Group’s investments in water solutions – is looking at investing about P16 Bn on several greenfield and brownfield opportunities in water resource utilization and wastewater engineering over the next five years.
These opportunities will help many areas in the country address not only water supply challenges but the threat posed by untreated wastewater on vital ecosystems.
“Our success in this sector will allow us to meet the Group’s sustainability objectives and meaningfully support efforts to improve the lives of our fellow Filipinos. With the help of all our stakeholders, we can drive meaningful change and create a future where access to clean water, improved sanitation, and environmental sustainability is a reality for all,” said Vivant Infracore President and CEO Jess Anthony Garcia.
“Our teams also contribute to our ESG initiatives. Recently, 70 employee-volunteers planted 2,000 mangroves in Barangay Cotcot in the northern Cebu town of Liloan,” said Vivant Corporation Chief Corporate Officer Carmela N. Franco.
She added that, “This was just one of the many initiatives that promote our teams’ contribution to creating value for the group through volunteerism in community outreach and environmental protection activities.”
“By addressing environmental, social, and governance factors head-on, we not only protect our company from potential risks but also position ourselves as leaders in creating a more sustainable future,” Sarmiento said.