Solar Panels

Vivant to invest Php364M in solar EPC firm

Cebu-based Vivant Corporation, through subsidiary Vivant Renewable Energy Corporation (VREC), is investing up to Php364 million in Buskowitz Finance, Inc. (BFI).

BFI is a solar engineering, procurement and construction (EPC) firm and is considered as one of the biggest players in the country’s rooftop solar installation market.

In a disclosure to the Philippine Stock Exchange, Vivant said that VREC will purchase up to 34.85% of BFI’s shares under a Shareholders’ Agreement signed on Wednesday.

The transaction, which Vivant says is a strategic investment to increase its renewable energy footprint, “will be completed through a series of infusions via deposits for future subscription of shares pursuant to an increase in the authorized capital stock of BFI.”

Vivant recently disclosed that it bought two Bukidnon-based power firms owned by Sen. Juan Miguel Zubiri.

 

Original article was published on Power Philippines

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