Vivant Corporation Sees Sustained Growth this 2024

Vivant Corporation (VVT), a publicly listed energy and water conglomerate headquartered in Cebu, said at its Annual Stockholders' Meeting that 2024 will be another year of consistent development for the company. 

“Banking on our sustained revenue and operating income amounting to P2.3 billion for full-year 2023, we see continued growth for this year.”, said Arlo Garcia Sarmiento, Vivant Corporation CEO. “We are extremely proud of how we’ve been able to move the country forward with our significant investments in energy and water,” he added.

Vivant posted a 43% year-on-year growth in its bottomline for 2023 mainly driven by the solid financial performance of the company’s energy strategic business unit Vivant Energy Corporation (Vivant Energy). The energy unit had a total income contribution of P3.1 billion, a 36% jump from the previous year.

Vivant Energy’s 2023 milestones:

• Expanded investment in the small power utilities group (SPUG) resulted into significant increase in attributable installed capacity from 35MW to 63MW.
• Acquisition of San Ildefonso Alternative Energy Corp. (SIAEC) – Vivant Energy’s first utility-scale solar power generation facility located in Bulacan with a total capacity of 22MW.
• First foray in the wind space via a partnership with Aboitiz Renewables and Vena Energy for the development of a 206MW wind farm in San Isidro, Northern Samar. Expected project completion is in 2Q 2025. 

“As we look to the future, Vivant Energy remains committed to developing solutions for energy transformation and the improvement of energy services in the country,” said Emil Andre Garcia, Vivant Energy President. He added: “To achieve our growth plans, our total equity investment requirement up to year 2030 is projected to reach P22 billion. Out of this, we target to earmark P15 billion for various renewable energy projects.”

Meanwhile, the company’s water strategic business unit Vivant Infracore Holdings, Inc. with the brand name Vivant Water recently had the first water out of the first skid/train of its plant in Isla Mactan Cordova Corp. (IMCC) – making history as the first company to construct a utility-scale seawater desalination facility in the Philippines.

Construction of the 20MLD seawater desalination plant in Cordova, Cebu is now estimated at 90% and will be fully operational before the end of the year.

Furthermore, Vivant Water’s investment in Puerto Princesa Palawan brought in P8.4 million in equity earnings for 2023, up by 32% year-on-year. The increase in revenue was due to higher earnings from septage operations on the back of increased desludging services. To date, Vivant Water has invested P2 billion in water infrastructure.

“While we remain focused in the near team to our home market of Cebu and other identified locations, we ultimately aim to be a major player in the water sector with operations in the country,” said Atty. Jess Anthony Garcia, Vivant Water president and COO. “We expect a total investment of about P8 billion over the next five years,” he added.