Vivant Energy Philippines RE portfolio expansion

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This project comprises a project finance facility for the expansion of the renewable energy portfolio of Vivant Energy Inc., the retail energy subsidiary of Vivant Corporation. The company was granted two loans by Metropolitan Bank and Trust Co. (MetroBank) and BDO Unibank. Metropolitan Bank and Trust Co. (MetroBank) extended up to $63.18m (P3.5 billion). The BDO Unibank Inc., extended the same amount of up to $63.18 (P3.5 billion). Both debt financings were granted for a period of 5 years, and signed in December 2023. The total debt funding equals $126.36m. The loans will play a key role in supporting the company’s investments in solar and wind power generation initiatives across the Philippines. Vivant recently acquired the San Ildefonso Alternative Energy Corp., which is set to develop a 22-megawatt solar power plant in Bulacan province. Additionally, another wholly-owned subsidiary, COREnergy, is working to expand its rooftop solar business from two megawatts to six megawatts. It also has signed a 20-year power supply agreement with Samal Solar Renewable Energy Corporation (SSREC). SSREC is developing a solar photovoltaic (PV) project with a capacity of 52 megawatts of direct current in Brgy. Samal, Bataan province, set to be completed within the second quarter of 2025. Vivant also entered into a joint venture — called Lihangin Wind Energy Corp. — with Aboitiz Power Corp. unit Aboitiz Renewables, Inc. and Singapore-based firm Vena Energy to put up a 206-megawatt wind power project in San Isidro, Northern Samar, expected to start commercial operations by the first quarter of 2025. https://www.bworldonline.com/corporate/2023/12/08/562389/vivant-unit-seals-p3-5-b-loan-with-bdo/ https://bankero.com.ph/bdo-unibank-extends-p3-5b-debt-financing-to-vivant-energy-for-expanding-renewable-energy-portfolio/big-banks/ https://solarquarter.com/2023/12/15/vivant-energy-receives-p3-5-billion-loan-from-metrobank-for-power-projects/