VIVANT Energy Corp. has signed a power supply agreement (PSA) with the Bantayan Electric Cooperative (Banelco) to energize Bantayan Island in Cebu province, its parent firm Vivant Corp. said. In a disclosure on Tuesday, Vivant said under the 15-year PSA, Isla Norte Energy Corp. (INEC) — a consortium of Vivant Energy, Vivant Integrated Diesel Corp. and Gigawatt Power Inc. — would install a 23.31-megawatt (MW) diesel-fired power plant on the island. The Vivant Group owns 65-percent total equity in INEC. This comes after Vivant Energy won last November the contract to supply 15 MW to Bantayan after Banelco conducted a competitive selection process. The power generated would go to the municipalities of Bantayan, Santa Fe and Madridejos. The planned power facility consists of 2 x 7.5-MW bunker-fired units and 3 x 2.8-MW bunker-fired units.
