Vivant completes exit from Buskowitz Energy
Vivant previously announced that the sale of its 32.26 percent stake aligns with its strategy to focus on core investments, particularly in retail energy supply and off-grid power projects.
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Vivant previously announced that the sale of its 32.26 percent stake aligns with its strategy to focus on core investments, particularly in retail energy supply and off-grid power projects.
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Vivant Corp. has finalized its divestment from local solar engineering, procurement, and construction (EPC) firm Buskowitz Energy Inc., following the completion of post-closing requirements for the sale of its equity stake.
In a disclosure to the Philippine Stock Exchange, Vivant said its renewable energy subsidiary, Vivant Renewable Energy Corp. (VREC), has completed the transaction with Aurora Sustainable Energy Pte. Ltd., which acquired its stake in Buskowitz Energy last September.
Vivant previously announced that the sale of its 32.26 percent stake aligns with its strategy to focus on core investments, particularly in retail energy supply and off-grid power projects.
Despite the divestment, the company said Buskowitz Energy remains a potential EPC partner for future solar projects.
Through its energy arm, Vivant Energy Corp., the company is working toward a 70:30 energy mix in favor of conventional power by 2030. It currently has a total capacity of around 382 megawatts, making it one of the largest power providers in off-grid areas.
Buskowitz Energy specializes in solar development and offers power purchase agreements, leases, and solar loans to businesses and individuals transitioning to renewable energy.
