Vivant Energy Corp. (VEC) assured on Wednesday that its entry in Bukidnon province would provide reliable and stable power supply in the area as Mindanao’s economy, which accounts for about 14 percent of the country’s GDP, improves.
VEC and its fully owned subsidiary Amberdust Holding Corp. recently acquired outstanding shares in Bukidnon Power Corp. (BPC) and North Bukidnon Power Corp. (NBPC) through share sale and purchase agreements with Senator Juan Miguel Zubiri.
“We brought in experts in energy with decades of experience and knowledge in the power value chain. We’re confident 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,” said Zubiri, who developed BPC and NBPC from 2015 and 2018 to address the power supply shortage in Mindanao at the time.
NBPC supplies 5 megawatts (MW) of the peaking power requirement in the franchise area of Bukidnon Second Electric Cooperative Inc. through its bunker-diesel power plant in Lantapan. BPC owns the two bunker-diesel power plants that are both contracted to supply the energy requirements of First Bukidnon Electric Cooperative, Inc.
“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,” said Vivant Corp. Chairman and CEO Ramontito E. Garcia.
Garcia said he is thankful to Zubiri for providing the Vivant Group the opportunity to become part of the development of Bukidnon.
“At Vivant, our vision is to bring excellence to industries that improve everyday living, so to have this opportunity to bring reliable energy to Bukidnon, feels like a chance to give back,” Garcia said. “We look forward to nurturing existing relationships in Bukidnon while creating new partnerships with stakeholders of BPC and NBPC.”
Vivant’s first venture in the region was through its equity investment in Minergy Power Corp. Vivant also has various investments in retail electricity and in power generation assets in other areas of the Luzon and the Visayas grids. They are a major player in the SPUG sector. In power distribution, it maintains equity ownership of Visayan Electric Company, the second largest power distribution utility in the country.
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