Vivant Renewable Energy Corp. (VREC), a subsidiary of Vivant Energy Corp., has acquired a 100% stake in Samar Philippines Renewable Corp., the developer of a large-scale wind farm project in Northern Samar, BusinessWorld reported on Wednesday.
The acquisition gives VREC full control of the project from Envision Energy Philippines Corp. The wind farm, located in Northern Samar, is expected to contribute to the country's renewable energy capacity and support the government's goal of increasing clean energy sources.
Vivant Energy has been expanding its renewable energy portfolio as part of its strategy to transition to cleaner power generation. The Northern Samar wind project adds to its existing assets in solar, hydro, and other renewable technologies.