Pampanga II Electric Cooperative and a consortium led by Vivant Energy Corp. signed a 15-year power supply agreement to maintain grid stability and security in the franchise area of the distribution utility.
Under the deal, La Pampanga Energy Corp., a consortium”¯of”¯Vivant Energy, its wholly-owned subsidiary”¯Amberdust Holding Corp. and Gigawatt Power Inc., will construct and operate a power”¯generation”¯facility with”¯total dependable capacity of 15 megawatts of peaking supply with ancillary service capability.
“Vivant Corp. was given notice by its wholly-owned subsidiary, Vivant Energy, that a 15-year power supply agreement with PELCO II was signed by LPEC,” Vivant said in a disclosure to the stock exchange Friday.
The 3 x 5.76-MW diesel-fueled power plant of LPEC will be built in Porac, Pampanga and will ensure grid stability and security in the franchise area of PELCO II.”¯
“We look forward to becoming part of the recovery and growth of the province of Pampanga by providing stable and reliable power to PELCO 2,” said Vivant Energy executive vice president and chief operating officer Emil Andre Garcia.
“As we expand our power generation portfolio, we remain committed to provide adaptable and forward-looking solutions, not just to the electric cooperatives that are our customers, but also with the communities they serve. To fulfill that commitment, we choose partners who share our core values,” Garcia said in a separate statement.
Vivant Energy and Gigawatt Power are partners in providing stable and reliable power in Puerto Princesa, Culion and Busuanga in Palawan and are constructing a 23-MW power plant in Bantayan Island, Cebu.
Vivant Energy holds Vivant’s interests in the electric power generation business. As of end 2019, Vivant had a portfolio of both renewable and non-renewable power generation plants with total attributable capacity of about 356 MW.