Vivant Corp. said Thursday it signed a P3-billion three-year bilateral term loan agreement with China Banking Corp. to refinance debts and support business expansion initiatives.
Vivant said in a disclosure to the Philippine Stock Exchange it would direct the proceeds from the loan facility toward refinancing maturing debt obligations and bolstering the company’s continuing investments in its power and water projects.
The announcement comes as Vivant reported strong financial results. Its consolidated core net income (CCNI) grew 24 percent to P1.9 billion in the first nine months of 2025. Net income attributable to equity holders of the parent company also rose 12 percent year-on-year to P1.9 billion.
Vivant chief executive Arlo Sarmiento said he was proud of the resilience of the teams that navigated market challenges and saw positive results from power generation, energy distribution and wastewater treatment operations.
Sarmiento expressed bullish expectations for the final quarter of the year, particularly following the recent acquisition of a solar project in Bataan.
“As we head to the fourth quarter of 2025, we expect to close the year strong. The recent acquisition of a minority stake in Samal Solar Renewable Energy Corp. [SSREC] which operates a solar power plant in Bataan will bring immediate value to the bottom-line and we expect the upcoming completion of our other business development initiatives to spur future growth,” he said.
Vivant Energy acquired in September a 40-percent equity stake in SSREC, the developer and operator of a 53.14 megawatt (MW) solar plant in Samal, Bataan. About 49.19 MW of the plant’s capacity began commercial operations in August this year, while the remaining 3.95 MW expansion is targeted for completion in 2026.
The acquisition effectively hiked Vivant’s total attributable operating generation capacity to 471 MW.
Vivant’s consolidated revenues for the period stood at P8.9 billion, largely flat compared with the previous year. A drop in revenues from the sale of power and equity in net earnings from joint ventures and associates was offset by the positive effect of concession asset recognition and an increase in interest income.
The sale of power accounted for the majority of revenues, representing 77 percent of the total. Vivant’s energy business contributed P2.5 billion to the company’s income.
Power generation represented 63 percent of the contribution at P1.7 billion, followed by the distribution utility (DU) business which recorded P879 million.
The retail energy segment had a P79-million loss contribution primarily due to a lower average selling price from retail electricity supply (RES) sales during the period.
Vivant’s portfolio of conventional plants delivered 3,211 gigawatt-hours (GWh) in the first nine months, with on-grid volumes totaling 3,015 GWh and off-grid assets selling 196 GWh of energy.
