Vivant buys 40% stake in Bataan solar park
Vivant Corp., an energy and water group, is strengthening its renewable portfolio in Luzon with the acquisition of a 40-percent stake in a Bataan solar park for P395 million.
In a disclosure to the local bourse on Thursday, the group said Vivant Energy Corp. made a fresh investment in the 53.14-megawatt (MW) Samal solar power project in Bataan.
Vivant Energy is a wholly owned subsidiary of the Vivant group, focusing on power-related investments.
The solar power facility, which was switched on last month, is operated by Samal Solar Renewable Energy Corp.
It delivers 52 MW of clean power to Corenergy, Vivant Energy’s retail electricity arm.
“The investment reinforces Vivant Energy’s commitment to the Department of Energy’s call for stronger public-private partnerships that ensure the benefits of the energy transition are realized through local development and capacity building,” the group said.
The Cebu-based conglomerate also said the move was part of its target to scale up its renewable energy mix to 30 percent in five years.
Last June, Vivant chief executive officer Arlo Sarmiento said the group intends to spend about P46 billion between this year and 2030 to support the rollout of more renewable energy projects.
Some of its projects include the 22-MW solar project in San Ildefonso, Bulacan. Its commercial operation is slated for this year.
It was also gearing up for the construction of the 206-MW Lihangin Wind Energy project in Northern Samar. This is a joint venture with Aboitiz Renewables, Inc. and Vena Energy. Vivant is looking at making the facility up and running by 2027.
