The energy business of Cebu-based Vivant Corp. is acquiring a company that will own and operate a solar power plant in Bulacan, in line with goals to bolster its presence in the renewable energy arena.
Corporate advisory firm TFC Capital Philippines Inc. served as CleanTech’s adviser for this transaction.
“The amount of the consideration was negotiated between the parties, but the exact price per share for the shares of CleanTech is yet to be determined, based on the yearend financial results,” it said. “The plant therefore has the capability to provide power to approximately 15,000 households, which translates to an offset of 18,000 tons of CO2 annually,” said CleanTech.
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