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jilipark Vivant bags 15-year power supply deal for Palawan
Photo from Vivant Energy Corp/Website
A Cebu-based unit of energy and water conglomerate Vivant Corp. has secured a 15-year contract to supply electricity to popular tourist destination Palawan.
Vivant told the local bourse Tuesday that Delta P. Inc., a subsidiary of Vivant Energy Corp., had emerged as the winning bidder from the recent power supply auction involving Palawan Electric Cooperative (Paleco).
Article continues after this advertisementThe signed power supply agreement (PSA) involves 40 megawatts of capacity, the company said. The auction was conducted through the National Electrification Administration.
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Vivant said Paleco’s move was meant to address the rising energy needs of the province amid its booming accommodation and food sectors, propelled by tourism growth.
Article continues after this advertisementData from the government earlier showed that 1.52 million tourists had visited Palawan in 2023, way higher than some 800,000 travelers logged a year ago. As the province gains more traction from tourists, Palawan has won several tourism awards.
Article continues after this advertisementPalawan’s top five foreign tourist markets are the United States, France, Germany, the United Kingdom and Spain.
Article continues after this advertisement“We are delighted to announce the signing of this PSA with Delta P. Inc. to ensure we meet Palawan grid’s need for reliable and sustainable power supply; a long-term solution to help Palawaneños regain their subsidy,” Paleco general manager Rez Contrivida said.
“This PSA is vital in ensuring stability, fostering innovation, driving long-term growth— giving us the foundation to plan, build, and deliver lasting solutions,” added Delta P. president Eric Omamalin.
Article continues after this advertisementVivant Corp. has investments in electric power distribution, infrastructure, power generation and retail.
In the first nine months, it said consolidated net income attributable to parent had reached P1.7 billion, down 15 percent, due to the absence of one-time gains realized last year.
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The firm said its power generation businesses had contributed 63 percent or P1.5 billion of the bottom line. The group’s total gross conventional power generation capacity was at 1jilipark,123 megawatts as of the end of September.
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