The provincial government of La Union awarded the ownership of the 225-megawatt Bauang diesel power plant to 1590 Energy Corp., a majority-owned subsidiary of Vivant Energy Corp.
It issued on April 6 the notice of award to 1590 EC, which offered the highest bid for the plant during the public auction following a post-qualification evaluation.
The sale will be concluded through a deed of transfer and conveyance that will be executed by the two parties to formally transfer the ownership of BDPP to 1590 EC.
“We welcome this opportunity to solidify our commitment to be a partner in the continued development of both the province of La Union and the municipality of Bauang. We will invest further into BDPP to continue providing stable and reliable power to the grid,” said 1590 EC chairman Emil Andre Garcia.
The company has been operating and maintaining BDPP since 2010 under a lease contract with the provincial government.
BDPP, the largest bunker-fired power plant in terms of generating capacity, helped address the supply needs of the Luzon grid since the start of its commercial operations in 1995.
“While diesel-fired plants use fossil fuel technology, the speed at which they can be fired up supports the expansion of renewable energy in the total energy mix by providing fast-reacting ancillary power to support renewable energy expansion,” said 1590 EC president Mark Habana.
He said 1590 EC contributed to local government revenues and helped improve everyday living in the communities surrounding the plant and nearby municipalities.
Vivant Foundation and 1590 EC also contributed to uplifting public education in Bauang through the construction of classrooms and science laboratories.
The company also provided immediate relief assistance following natural calamities and support for the implementation of distance learning during the COVID-19 pandemic. Alena Mae S. Flores
It is led by Vivant Energy which is a wholly-owned subsidiary of Vivant Corp. Vivant Energy is holding the Vivant group’s investment portfolio in power generation and supply assets.