Established in 2002, Vivant Corporation is a publicly listed company in the Philippines Stock Exchange (PSE Symbol: VVT). The Company operates under the ownership and representation of the Garcia-Escaño Family of Cebu with the aim of bringing excellence to industries that improve everyday living.
Since the 1920s, through its subsidiaries and associates, the Company has been in the business of electric power generation, electric power distribution and retail electricity supply in the Philippines.
Vivant’s origins can be traced back to the rich and humble beginnings of Viuda y Hijos de F. Escaño Incorporada, the enterprise that Don Fernando Escaño founded in 1879, which came to be known as Hijos de F. Escaño Inc. (HDFE).
The entry into the power industry dates back to the early 1900s when the Family diversified its business interests (mainly shipping and trade) to include electricity power distribution when it took over the operations of the Visayas Electric Company (VECO). VECO was the power distribution utility serving the electricity requirements of the City of Cebu and its surrounding municipalities.
The Second World War caused significant damage in the facilities of VECO. It was during the close of the war in 1945 that initiatives of VECO, alongside with the US Army, allowed the resumption of its operations to its pre-war levels. Staff levels were beefed up, while investments in new machineries and equipment poured in. Currently, VECO stands as the second largest privately owned electric power distribution utility in the Philippines in terms of annual gigawatt-hour (GWh) sales.
In 2003, the Family acquired 99% of Philstar.com, a company listed in the Philippine Stock Exchange (PSE). Subsequently, the Family’s holdings in HDFE and VECO were infused to this company. Philstar.com was afterward renamed Vivant Corporation.
Vivant and Aboitiz Equity Ventures sign Shareholders Cooperation Agreement relating to the new management structure of VECO.
As of 1ST half 2013, Vivant has an effective equity interest of approximately 35% in VECO.
Commercial operations for Calamian Islands Power Corporation (CIPC) Coron (8 MW diesel plant) started in 2013 & Busuanga (750 kw diesel plant) in 2014.
Vivant purchased 17 MW strips of Unified Leyte (UL) geothermal plant through an IPPA which was turned over last December 2014.
Expansion of the DPI power plant (eDPI) in Palawan which held its groundbreaking on 2016.
165 MW fossil fuel-fired Minergy Power Corporation (MPC) received its notice to proceed with construction last January 2014. It is expected to commence operations by 2017.
6 MW run of river Vivant Malogo Hydropower Incorporated (VMHI) is projected to commence on 2019.
Investment in 300 MW fossil fuel-fired Therma Visayas Incorporated (TVI) broke ground on the first quarter of 2015. The first unit is expected to be connected to the grid by end 2017, with the second following three months thereafter.