MANILA, Philippines, Sept. 5, 2017 /PRNewswire/ -- ET Energy, a leading global clean energy developer and operator, and Vivant Corporation, a leading energy solutions provider based in the Philippines, sign an agreement to enter into a Joint Venture (JV) – ET Vivant Solar (EVC). The JV came about following initial introductions of the two parties made by Primeiro Partners, who also advised them on the formation of the JV, in December 2016.
Under the JV, ET Energy and Vivant Corporation, through its wholly-owned subsidiary Vivant Renewable Energy Corporation (VREC), will complement and expand their respective expertise in technology, project development, operations, power generation and retail electricity supply. Furthermore, EVC will be dedicated to providing turn-key solutions through Power Purchase Agreements (PPAs), covering every step of a solar plant's life cycle, helping businesses secure savings on electricity payments and insulating them against price surges for over 20 years.
"ET Energy firmly believes that clean energy is the future. That's why we are dedicated to providing green electricity for customers all over the globe," said Dennis She, President and CEO of ET Energy. "Our global experience in project development and operations is a perfect match with Vivant's energy delivery experience. We are ideal partners to help Filipino businesses get their own solar rooftop power plants through customized PPAs."
EVC aims to develop solar power plants that provide lower electricity rates directly to the end-user. For commercial and industrial sites across the Philippines, the investment in solar provides a tailored, cheaper and better alternative to regular utility power sources.
Arlo G. Sarmiento, COO of Vivant Corporation, said, "The Vivant group of companies has made a mark with our breadth of offers, being one of the few Filipino companies with investments in distribution, generation and retail in the energy sector, which includes renewable, traditional and off-grid power projects. Our partnership with ET Energy allows us to add a new option to the solutions we offer our customers, partners and communities, allowing us to be more adaptable to the changing needs in the market."
About VREC and Vivant Corporation
VREC holds the renewable energy portfolio of Vivant Corporation, a publicly-listed company listed on the Philippine Stock Exchange. Vivant is an electricity stalwart with investments that have been providing reliable and steady power solutions in Philippine communities for close to a century. It has investments in power generation, distribution and retail of both renewable and traditional energy sources. To learn more about the Vivant group of companies, please visit http://www.vivant.com.ph.
About ET Energy
ET Energy is a leading global clean energy developer and operator. With innovative solar technologies and tailored financial solutions, ET Energy provides professional one-stop solutions across the entire solar power plant lifecycle including development, financing, engineering, procurement, construction and operations & maintenance. To learn more about ET Energy, please visit http://www.etsolar.com.
For more details, please contact:
SOURCE ET Solar Group