Vivant Corporation through its wholly-owned subsidiary, Vivant Energy Corporation, has signed a Share Sale and Purchase Agreement with Cleantech Global Renewables Inc. to acquire 1,250,004 shares of the latter in San Ildefonso Alternative Energy Corp. (SIAEC), the project company for the solar plant project.
Vivant Energy also signed a Subscription Agreement for the 3,749,996 unissued shares of SIAEC. TFC Capital (Philippines), Inc. served as the transaction adviser of Cleantech.
The transaction is a strategic investment to increase Vivant’s footprint in the renewable energy industry. San Ildefonso Alternative Energy Corp. is the project company for the 22MWp Solar Photovoltaic Plant in San Ildefonso, Bulacan, Philippines.
US$5,000,000.00 for the acquisition of shares of Cleantech. US$5,000,000.00 and Php3,749,996.00, respectively, have already been paid, without the final price per share for Cleantech shares pending yearend results.