Business Mirror
Published on Thursday, 18 April 2013 18:40 Written by Lenie Lectura / Reporter
LISTED firm Vivant Corp. on Thursday said its consortium Calamian Islands Power Corp. (CIPC) yesterday broke ground for the construction of two power plants in Palawan.
Vivant’s wholly owned subsidiary Vivant Energy Corp. owns 50 percent of CIPC. Gigawatt Power Inc. owns the other half.
A 750-kilowatt diesel will be constructed in Busuanga, while an 8-megawatt bunker-fired power plant will be put up in Coron. The said facilities will supply power to the two towns.
“Both [facilities] will provide the full service and ancillary power requirements of Busuanga Island Electric Cooperative Inc. [Biselco] under a bilateral power-supply contract for the next 15 years from the plants’ commercial operation,” Vivant said. Biselco distributes electricity in the island-group that includes the municipalities of Coron, Busuanga, Culion and Linapacan in northern Palawan.
Biselco earlier signed a 15-year supply agreement with CIPC due to state-owned National Power Corp.’s inability to secure its electricity requirements.
The commercial operation of both power plants is targeted in 2014.
Vivant also has a stake in Cebu Private Power Corp., Cebu Energy Development Corp. and Visayan Electric Co. Inc. in Cebu. source
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