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Wednesday, June 19, 2024

Vivant Renewable investing P364M in solar company

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The Vivant Group is expanding its renewable energy portfolio with its latest equity investment of P364 million into the Buskowitz Group, one of the country’s major players in rooftop solar projects.

Vivant Renewable Energy Corp., a wholly-owned subsidiary of Vivant Energy Corp., will acquire a 34.85-percent stake through a series of investments in Buskowitz Energy, a sustainable solutions enterprise specializing in rooftop solar photovoltaic installations.

The investment is part of the Vivant Group’s commitment to expand its renewable energy portfolio. VREC is a wholly-owned subsidiary of Vivant Energy Corp., the holding company for energy-related investments of publicly-listed Vivant Corporation.

“We give high importance to both supply security and sustainability in our investments. We study renewables as well as technologies that combine both conventional and renewable. In our projects in SPUG [small power utilities group] areas, we find hybrid technologies to be highly viable,” VREC president and chief executive Emil Andre Garcia said in a statement.

Buskowitz Energy chief executive James Buskowitz said VREC’s series of investments of up to P364 million would enable Buskowitz Energy to continue innovating and making a positive impact on the country’s development.

“At the end of the day, the benefits of harnessing the power of the sun goes beyond lowering costs. Sustainability is the true bottom line and sustainable development is the common future, where the needs of this generation must be met without compromising the needs and growth of future generations,” Buskowitz said.

Vivant and Buskowitz Energy expect to power more communities with renewable energy, offer sustainable solutions and create a low-carbon future for the Philippines.

Vivant has been providing adaptable and forward-looking solutions to various segments of the power value chain, including energy generation and distribution and retail electricity.

Buskowitz’s first collaboration with Vivant started in 2019 when it was commissioned to provide engineering, procurement and construction services for several rooftop solar projects.

The total capacity of solar installations made by Buskowitz with Vivant already reached 2.4 megawatts.

“As a group, Vivant’s goal is to provide adaptable and forward-looking solutions that address sustainability while improving everyday living of our communities. These solutions include renewable energy, which is why we are committed to expanding our renewable energy capacity,” Vivant Energy president Arlo Sarmiento said.

Buskowitz has completed a total of 168 installations around the country and aspires to go beyond rooftop installations and aims to accelerate the country’s development towards renewable energy.


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