Garcia-Escano family-led Vivant acquires solar plant in Bulacan
CleanTech was mentioned in this Bilyonaryo article.
In a regulatory filing, Vivant said wholly-owned subsidiary Vivant Energy had purchased 1.25 million shares of Cleantech Global Renewables in San Ildefonso Alternative Energy Corp. (SIAEC), the project company for the 22-megawatt peak Bulacan solar project.
Vivant has paid $5 million (around P279.80 million based on an exchange rate of 55.924) for the acquisition of Cleantech’s shares but said the exact price per share is yet to be determined, pending release of its yearend financial results.
Vivant Energy also signed a subscription agreement for the 3.749 million unissued shares of SIAEC, in which P3.749 million has been paid by the company for the subscription.
“The transaction is a strategic investment to increase Vivant’s footprint in the renewable energy industry,” Vivant said.
Vivant Energy holds Vivant’s renewable energy investment portfolio.