Cebu-based Vivant group has earmarked P5 billion in capital expenditures (capex) for power projects until 2023 in anticipation of a rise in electricity demand as the economy further reopens.
Emil Andre Garcia, senior vice president for Vivant’s power business, said in a briefing that the amount was for power projects covering conventional types and renewable energy.
Currently, Vivant has under its belt 385 megawatts of power generation capacity, of which 95 percent uses conventional platforms such as diesel-fired and coal-fed generators.
Budget increase
“However, because of aggressive renewable energy targets, a large chunk of that (three-year capex) is allocated for renewabl…
Keep on reading: Vivant sets P5-B budget for power projects until 2023