Vivant Energy secures ₱8.5-billion BDO loan to fuel renewable power push
Vivant Energy Corp. is set to push forward with its capital expenditure (capex) projects after securing an ₱8.5-billion loan facility from BDO Unibank, Inc.
In a disclosure to the Philippine Stock Exchange on Friday, Aug. 14, parent firm Vivant Corp. stated that its energy subsidiary signed the term loan facility to finance power generation investments and other capex outlays.
While specific financial terms were not disclosed, the funding will support Vivant Energy’s renewable energy (RE) expansion as it pursues its target of achieving a 30 percent clean energy share in its total capacity by 2030.
Earlier this week, the company announced the development of a 200-megawatt (MW) wind farm targeted for completion by 2028. It also began testing and commissioning its 22-MW solar facility in Bulacan last month.
Beyond renewables, the company aims to expand and diversify its broader portfolio, particularly after experiencing recent operational challenges caused by unplanned downtimes across several conventional power plants.
This marks BDO Unibank’s second major financing agreement with the energy firm, following a ₱3.5-billion term loan granted in 2023 for its power projects.
Vivant’s total plant portfolio currently stands at approximately 1,176 MW in gross installed capacity, with total sales volume across its coal, oil, and solar assets reaching 2,132 gigawatt-hours (GWh).
During the first half of the year, Vivant Energy’s oil generation assets contributed ₱531 million to net income, driven by strong spot market sales from Meridian Power, Inc. and 1590 Energy Corporation. However, a ₱93-million loss at Delta P, Inc. stemming from engine downtime partially offset gains from off-grid units such as Calamian Islands Power Corporation and Isla Norte Power Corporation.
Meanwhile, its on-grid coal assets contributed ₱311 million—down 27 percent year-over-year—as strong earnings from Abovant Holdings, Inc. and Minergy Power Corporation via spot market and retail electricity sales were tempered by unplanned unit outages at Therma Visayas, Inc. (TVI).
Its on-grid renewable asset, Samal Solar Renewable Energy Corporation, added ₱23 million to the bottom line on 40 GWh of power generation. (Gabriell Christel Galang)