MANILA, Philippines — Vivant Energy subsidiary COREnergy Inc. has entered into power supply deal with a renewable energy developer putting up a solar power plant in Bataan.
COREnergy is a retail company that offers total energy solutions to commercial and industrial establishments.
Vivant Corp. in a stock exchange filing said said COREnergy signed a 20-year power supply agreement with Samal Solar Renewable Energy Corp. (SSREC).
SSREC is in the process of developing a solar power project with a total capacity of 52-megawatt direct current in Barangay Samal, Bataan.
Vivant said SSREC’s obligations to construct the plant and supply the contracted energy is subject to the condition precedent of a successful financial close to secure debt financing for the project.
SSREC’s solar power facility is targeted for completion within the second quarter of 2025.
Vivant Energy is a wholly owned subsidiary of publicly listed Vivant.
It serves as the holding company for Vivant’s investments in power distribution and generation, retail electricity services and energy-related engineering solutions.
Vivant Energy combines existing and emerging technologies to provide energy solutions.
The company has also been energizing off-grid and remote schools through solar and upgrading the electrician’s course in nearby senior high schools to include knowledge on solar energy.