Aboitiz, Vivant units ink investment deal for Visayas power proj

MANILA, Philippines - Therma Power Inc. (TPI), a subsidiary of AboitizPower, has entered into a shareholders’ agreement with Vivant Integrated Generation Corp. (VIGC) for a power project in the Visayas.

In separate disclosures to the Philippine Stock Exchange (PSE) yesterday, the two companies said the agreement covers Vivant’s participation of up to 20-percent interest in Therma Visayas Inc. (TVI).

 “TVI is the project company that proposes to construct and operate a 2 x 150 megawatt coal-fired power generation facility in Brgy. Bato, Toledo City in Cebu,” TPI said in its disclosure.

AboitizPower is the power generation company of the Aboitiz Group.

TPI is the holding company for  AboitizPowers  investments in non-renewable generation assets while VIGC is a wholly-owned subsidiary of Vivant Energy Corp. (VEC) which, in turn, is 100 percent owned by Vivant Corp.

Vivant Corp. is a listed company based in Cebu with investments in power generation and distribution. 

Its investments include Amlan Hydro Power Inc., the operator of the 0.8-megawatt run-of-river type hydroelectric power plant in Amlan in Negros Oriental, approximately 35 kilometers north of the provincial capital, Dumaguete City.

It has various projects and investments as well as supply contracts with existing power players.

In April last year, a Vivant partnership with Sta. Clara Renewables signed an agreement with Trans-Asia Oil and Energy Development Corp. of the Phinma Group covering the sale of a portion of the capacity of the Bakun hydropower plant in Ilocos Sur.