Vivant, GBPC ink deal on coal-fired plant project
A unit of Vivant Corp. signed with Global Business Power Corp. (GBPC) an agreement on the predevelopment of a 670-megawatt, coal-fired power plant in La Union.
Vivant said in a disclosure to the Philippine Stock Exchange that Vivant Integrated Generation Corp. (VIGC) and GBPC would jointly participate in the project through Lunar Powercore Inc.
The project is under a special purpose vehicle named Global Luzon Energy Development Corp., which will undertake the financing, design, procurement, construction, testing, commission, operation and maintenance of the planned power plant.
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The plant will have two generating units at 335 MW each.
VIGC and GBPC have allocated P450 million for the predevelopment activities.
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