Power

Vivant takes over Bukidnon power plants from Migs Zubiri

Garcia-controlled Vivant Energy Corp., together with Amberdust Holding Corp. (AHC), announced the acquisition of a majority stake in Bukidnon Power Corp. (BPC) and North Bukidnon Power Corp. (NBPC) from Senator Juan Miguel Zubiri.

Under sale and purchase agreement signed on Feb. 19, Vivant and AHC will acquire 90% of the outstanding shares of BPC and NBPC for a total of P434.367 million.

NBPC supplies five megawatts of the peaking power requirement in the franchise area of Bukidnon Second Electric Cooperative, through its bunker-diesel power plant in Lantapan, Bukidnon.

BPC, on the other hand, is the owner of two bunker-diesel power plants that supplies the energy requirements of First Bukidnon Electric Cooperative Inc.

“The acquisition will contribute to the continued expansion of the business activities of Vivant Corporation in the Mindanao region,” Vivant said.

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