Vivant Energy Corp. plans to put up 1,000 megawatts of power capacity by 2030, company officials said over the weekend.
“We’re looking at by 2030, 1,000 MW, of which 30 percent is in RE (renewable energy) sector… Of course, we revisit these targets every couple of years,” said Vivant Energy executive vice president and chief operating officer Emil Garcia.
Vivant Energy is the energy unit of listed Vivant Corp., which has a diversified portfolio in power generation and distribution, and retail electricity supply.
Vivant Energy plans to double its capacity in the medium-term to 500 MW by 2023, with 20 percent coming from RE.
“In our planning session, we would like to have at least additional… 500 MW by 2023 and one thing that is key there is… we want 20% from renewables sector. … We’re quite heavy on coal, bunker, so we want to make that conscious shift to RE-centric projects. We know there’s still a place for conventional but we want to have the proper mix,” Garcia said.
He said the company was looking at wind and solar for its RE porfolio.
“We’ll try to work with coops, utilities, even contestable (market)… We have some on grid and we’re looking at one off grid as well,” he said.
The company will start construction of a 23-MW project in Bantayan Island in Cebu and has lined up other projects in Palawan, Marinduque and other areas
The official said the company was also open to partnerships and acquisitions.
He said the expansion plans involved not only Visayas where the company has a strong presence but also other areas around the country.
“We already have presence in other parts of the country. We’re developing a coal plant in La Union together with Global Power. We’re developing a wind lot in Eastern Visayas as well, with a wind partner,” Garcia said.
Vivant Energy plans break ground on the wind project by the first half of next year.
“We’re doing the proper sizing right now, so it’s around 80 MW to 100 MW, but it looks like it’s close to 80 MW to 85 MW,” he said.
Shem Jose Garcia, assistant vice president of parent Vivant Corp., said the company was “optimistic about the new partnership” on the wind project.
“Partnership is really important part of the way we do business,” Garcia said.