Cebu-based energy and water conglomerate Vivant Corporation expects 2024 to be another year of sustained growth for the company as it plans to invest P30 billion over the next five years.
“Banking on our sustained revenue and operating income amounting to P2.3 billion for full-year 2023, we see continued growth for this year," said Vivant Chief Executive Arlo Garcia Sarmiento during the firm’s Annual Stockholders’ Meeting.
He added that “we are extremely proud of how we’ve been able to move the country forward with our significant investments in energy and water.” The firm intends to invest P22 billion for its energy projects and P8 billion for its water business in five years.
Vivant posted a 43 percent year-on-year growth in its bottomline for 2023 mainly driven by the solid financial performance of the company’s energy strategic business unit Vivant Energy Corporation (Vivant Energy).
The energy unit had a total income contribution of P3.1 billion, a 36 percent jump from the previous year as its expanded investment in the small power utilities group (SPUG) resulted in a significant increase in attributable installed capacity from 35 megawatts to 63 megawatts.
Earnings were also boosted by its acquisition of San Ildefonso Alternative Energy Corp. (SIAEC) – Vivant Energy’s first utility-scale solar power generation facility located in Bulacan with a total capacity of 22 megawatts.
“As we look to the future, Vivant Energy remains committed to developing solutions for energy transformation and the improvement of energy services in the country,” said Vivant President Emil Andre Garcia.
He noted that “to achieve our growth plans, our total equity investment requirement up to the year 2030 is projected to reach P22 billion. Out of this, we target to earmark P15 billion for various renewable energy projects.”
Meanwhile, 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/train of its plant in Isla Mactan Cordova Corp. (IMCC) – making history as the first company to construct a utility-scale seawater desalination facility in the Philippines.
Construction of the 20MLD seawater desalination plant in Cordova, Cebu is now estimated at 90 percent and will be fully operational before the end of the year.
Furthermore, Vivant Water’s investment in Puerto Princesa Palawan brought in P8.4 million in equity earnings for 2023, up by 32 percent year-on-year.
The increase in revenue was due to higher earnings from septage operations on the back of increased desludging services. To date, Vivant Water has invested P2 billion in water infrastructure.
“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,” said Vivant Water President and COO Jess Anthony Garcia.
He noted that “we expect a total investment of about P8 billion over the next five years.”