Pampanga II Electric Cooperative awarded a 15-year power supply contract to the consortium of Vivant Energy Corp. and Gigawatt Power Inc.
“PELCO II concluded a successful competitive selection process by awarding a 15-year contract to supply 15 MW of the cooperative’s peaking energy requirements to the joint-venture of Vivant Energy and Gigawatt Power Inc.,” Vivant Corp. said in a disclosure to the stock exchange Tuesday.
Vivant Energy, a wholly-owned subsidiary of Vivant Corp., will own a 50-percent equity in the power plant project, which will add to its capacity as it continues its growth in the power generation sector.
The consortium will build a 3 x 5.76-MW diesel-fueled power plant under a build-operate-own [rogram in Porac, Pampanga.
The power plant, with a dependable capacity of 15 MW, will address peaking power supply requirements in PELCO II’s franchise area.
The future facility will provide stable, reliable and quality power to PELCO II’s coverage area even during peak hours.
“We welcome this opportunity to be a partner in the development of the seven local government units being served by PELCO II. Wherever we go, we’ve always been committed to the economic and social development of the communities we serve, and we will make the same commitment here,” Vivant Energy executive vice president and chief operating officer Emil Andre Garcia said in a separate statement.
“Gigawatt Power and Vivant Energy have always been known for the service, commitment and reliability that our power plants provide in the distribution systems of electric cooperatives. We assure PELCO 2 and its member-consumers the same level of excellence,” said Gigawatt Power president Walden Tantuico.
Garcia announced in September plans to invest over P2 billion in renewable and energy storage technologies and in the hybridization of power plants.
“We plan to look into new technologies and improvements into existing technologies that would help us grow our presence in the industry while promoting more sustainable energy,” said Garcia.
“Despite the challenges presented by the pandemic, we are well-situated to carry on and thrive by adapting and future-proofing our investments in power. To continue supporting Vivant’s mission of bringing excellence to industries that improve everyday living, Vivant Energy will continue to grow its position in the power industry so Vivant can endeavor to enter into new waters,” he said.