Vivant Energy Corporation has acquired an equity interest in Bukidnon Power Corporation (BPC) and North Bukidnon Power Corporation (NBPC) in a bid to expand investments in Mindanao.
Vivant Energy and its wholly-owned subsidiary Amberdust Holding Corporation (AHC) acquire 90 percent of the outstanding shares of BPC and NBPC from its existing shareholders through share sale and purchase agreements.
“We are confident in the recovery and growth of the Philippine economy, and we believe that Mindanao will play a more significant role in it. That growth will require a stable and reliable power supply, which we are committed to providing,” Vivant Energy EVP and COO Emil Andre M. Garcia said Monday.
According to Garcia, the investment ensures stability and reliability of the power supply in Bukidnon Province, particularly during peak hours.
NBPC supplies five megawatts (MW) of the peaking power requirement in the franchise area of Bukidnon Second Electric Cooperative, Inc. through its bunker-diesel power plant in Lantapan.
Bukidnon BPC owns the two bunker-diesel power plants that are both contracted to supply the energy requirements of First Bukidnon Electric Cooperative, Inc.
In expanding its conventional energy generation portfolio, Vivant Energy has also taken firm steps in finding brownfield and greenfield renewable projects.
The company likewise ventures on technologies that combine both renewable and conventional energy.