Buskowitz Energy Secures a 364M Peso Investment from Vivant Renewable Energy Corporation
IN THE PHOTO: At the ceremonial signing of Vivant Energy and Buskowitz Energy are President of Vivant Corporation and President & CEO of Vivant Energy Corporation, Arlo Sarmiento; President of Vivant Renewable Energy Corporation & Chief Operating Officer of Vivant Energy Corporation, Emil Garcia, Founder and Chief Executive Officer, James Buskowitz; Vice President for Subsidiary Operations of Vivant Energy Corporation, Mark Habana.
Buskowitz Energy secures a P364 million investment from Vivant Corporation, a publicly-listed company in the Philippines Stock Exchange (PSE Symbol: VVT), through its subsidiary company Vivant Renewable Energy Corporation. The partnership of the two major players in the energy industry aspires to pave the way for a more aggressive renewable energy expansion in the Philippines this 2021.
Buskowitz Energy closed the deal to secure additional funding, which will expand the company’s rooftop solar portfolio, as well as their renewable energy initiatives for the year. Buskowitz is set to install several awarded projects with a total capacity exceeding ten megawatt-peak (MWp). The sustainable solutions enterprise also plans to roll-out several RE initiatives such as its new Energy Management System package line-up, which is offered to help companies comply with the Department of Energy’s Republic Act No. 11285. Entities operating with at least 100,000 kilowatt-hours per year—those generating an average annual bill ranging from P400,000 to P800,000, depending on their local distribution utility provider—are mandated to meet the Department of Energy’s requirements to adopt energy efficient systems and practices by April 15. To-date Buskowitz has a portfolio exceeding 25 MWp and 40 MWp in the pipeline for 2021.
Buskowitz Energy Chief Executive Officer, James Buskowitz, shares, “We are thrilled that our partnership with Vivant will allow us to continue innovating, and make a positive impact on the development of our country. 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.”
Regarding the partnership, Vivant Renewable Energy Corporation President and CEO Emil Andre M. Garcia said, “We give high importance to both supply security and sustainability in our investments and this opportunity to partner with Buskowitz Energy fits the criteria. We are excited to be a partner of Buskowitz, which shares our mission to provide innovative and adaptable energy solutions to our communities.”
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. To-date a total of 3,006 panels with a capacity of 2.4 megawatts has been installed with Vivant.
Vivant, a stalwart in the Philippines energy industry, has been in the power sector since the early 1900s. Today, the company is the 2nd largest shareholder of the Visayan Electric Company (VECO), which is the second largest electric utility in the country. Combining centuries of experience with trending innovations, Vivant and Buskowitz Energy hope to power more communities with renewable energy, offer sustainable solutions, and create a low-carbon future for the Philippines.
Learn more about the partnership between Vivant Group and Buskowitz Energy.