Listed Vivant Corp. is looking at capital expenditure budget of up to P7 billion in the next three years, with the bulk going to power investments, officials said Thursday.
Vivant is spending P5 billion for power and around P1.4 billion to P2 billion for its infrastructure projects.
“We mentioned that we are allocating P5 billion in capex not specifically for all RE (renewable energy but for all projects for the next three years so that’s until 2023,” Vivant Energy Corp. executive vice president and chief operating officer Emil Andre Garcia said during a virtual briefing.
Garcia said P3 billion would be spent for 2021 capex as the economy reopens.
Vivant Energy spent around P500 million last year due to the impact of COVID-19.
Garcia said the company was also pursuing investments in conventional types of generation. “However, because of our aggressive RE targets, a large chunk of that is allocated for RE,” the official said.