Vivant Corp. subsidiary Vivant Energy Corp. has expanded its investment in Mindanao after acquiring equity interest in Bukidnon Power Corp. (BPC) and North Bukidnon Power Corp. (NBPC).
Under the deal, Vivant Energy and its wholly owned subsidiary Amberdust Holding Corp. (AHC) will acquire 90 percent of the outstanding shares of BPC and NBPC from its existing shareholders through share sale and purchase agreements.
Vivant did not disclose the amount involved in the transaction but explained that it is expected to further ensure stability and reliability of the power supply in Bukidnon, particularly during peak hours.
NBPC supplies 5 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 while BPC owns two bunker-diesel power plants that are both contracted to supply the energy requirements of First Bukidnon Electric Cooperative, Inc.
Vivant Energy has built a portfolio of both renewable and non-renewable power generation plants with total attributable capacity of 356 MW.