LISTED utility firm Vivant Corp. plans to invest up to P67 billion through 2030, mostly for renewable energy (RE) projects, in a bid to expand its generation portfolio and strengthen its presence in the water sector.
The company told a media briefing following its annual stockholders’ meeting on Thursday that it was targeting 1,000 megawatts (MW) in power generation capacity by 2030, with at least 30 percent coming from renewable sources.
Vivant CEO Arlo Sarmiento said around 78 percent of the company’s projected investments from 2026 to 2030 would be allocated to renewable energy developments.
“We continue to move close to our goal of 1,000 MW, of which at least 30 percent will be in renewable energy,” he said, adding the company remained bullish on renewable energy despite elevated inflation and interest rates.
“We could use more RE,” Sarmiento added. “Our dependence on conventional energy sources has made us one of the most expensive countries in terms of power costs, largely because of our dependence on oil, gas and even coal, so there’s definitely space there.”
The company said it was currently evaluating around 10 to 15 projects to support its expansion goals, including renewable energy facilities ranging from 30 MW to 300 MW in capacity.
Vivant executives said heavier investments were expected by 2027 and 2028, subject to macroeconomic conditions.
Chief Finance Officer Carmela Fernandez said the capital spending program would be financed through a combination of debt and equity.
“Currently, we’re doing a combination of debt and equity, internal equity,” Fernandez explained, adding they were also studying the possibility of a follow-on offering, depending on market conditions.
Aside from power, Vivant said it was also ramping up investments in its water business, earmarking about P7 billion through 2030. Around 70 percent of the planned amount will go to bulk water projects, while the remainder will fund water distribution systems.
The company said its water unit saw a turnaround in 2025, generating P218 million in net income from a P9-million loss in 2024. It said the turnaround was driven mainly by Isla Cordova Corp., the country’s first utility-scale seawater desalination plant.
Additionally, Vivant disclosed that Isla Mactan Desal had signed a joint venture agreement with Metropolitan Cebu Water District in April last year.
From being a traditional investor, Sarmiento said the company has evolved into an active builder and operator since 2022, allowing it to gain greater operational control and resilience amid a challenging business environment.
“With nearly 500 megawatts in generating capacity and 25 million liters per day in bulk water supply and distribution, we have built a solid foundation,” he said.
Vivant Corp. shares last closed at P21.20 each on May 20.
NAZYLEN JOY MABANGLO
