Vivant divests Buskowitz stakes
‘We value our past collaboration and look forward to pursuing our respective growth strategies’
‘We value our past collaboration and look forward to pursuing our respective growth strategies’
Vivant Renewable Energy Corp. (VREC), a subsidiary of Vivant Energy Corp. (VEC), is divesting its 32.26 percent stake in Buskowitz Energy amid business strategy realignment.
VREC president and CEO Mark Habana said on Thursday that the move aims to consolidate its resources in the clean energy sector, seen as critical to the company’s long-term growth.
“The divestment is part of VEC’s efforts to focus its investments on its core competencies, particularly in its retail energy supply (RES) and Small Power Utilities Group (SPUG) businesses,” Habana said.
Buskowitz Energy, specializing in solar energy solutions, supported the decision.
Meanwhile, Buskowitz Energy president and CEO James Buskowitz noted that the decision was “rooted in mutual respect and a shared vision for a sustainable future.”
“We value our past collaboration and look forward to pursuing our respective growth strategies,” he added.
Despite VREC’s divestment, Buskowitz Energy may still serve as a potential engineering, procurement and construction (EPC) partner for VEC in future solar projects.
VREC, as a wholly-owned subsidiary of VEC, manages the energy investments of Vivant Corp., a publicly listed conglomerate.
