Philippines to boost clean energy
Cleanergy” in the Philippines is expected to get a boost as publicly-listed Vivant Corp. (VVT) seeks to expand its renewable energy portfolio through a partnership with a global clean energy developer and operator.
The Cebu-based energy solutions provider recently signed a joint venture agreement with ET energy, a global provider of innovative solar technologies and tailored financial solutions, to form ET Vivant Solar (EVC).
“Our partnership with ET Energy allows us to add a new option to the solutions we offer our customers, partners and communities, allowing them to be more adaptable to the changing needs in the market,” Arlo Sarmiento, VVT chief operating officer, said.
Under the venture, ET Energy and VVT, through its wholly-owned subsidiary Vivant Renewable Energy Corp. (VREC), will complement and expand their respective expertise in technology, project development, operations, power generation and retail electricity supply.
Furthermore, the joint venture will be dedicated to providing turn-key solutions through Power Purchase Agreements (PPAs), covering every step of a solar plant’s life cycle, helping businesses secure savings on electricity payments and insulating them against price surges for over 20 years.
EVC also aims to develop solar power plants that provide lower electricity rates directly to end-users.
Cleanergy, a portmanteau of “clean” and “energy,” also refers to renewable energy.
According to the Department of Energy (DOE), the development and optimal use of the country’s renewable energy resources is central to the Philippines’ sustainable energy agenda.
Furthermore, renewable energy is considered an essential part of the country’s low emissions development strategy and is vital to addressing the challenges of climate change, energy security, and access to energy.
ET president and Chief Executive Officer Dennis She, meanwhile, said ET Energy believes that “clean energy is the future.”