Vivant acquires 34.85% stake in solar firm
By Myrna M. Velasco – March 12, 2021, 7:00 AM
from Manila Bulletin
Garcia-led Vivant Renewable Energy Corporation (VREC), a subsidiary of Vivant Energy Corporation, is acquiring 34.85-percent stake in Buskowitz Energy, an enterprise that is specializing on solar rooftop installations deploying photovoltaic (PV) technologies.
“The investment is part of the Vivant group’s commitment to expand its renewable energy portfolio,” the company emphasized in its statement to the media.
Some of the solar rooftop PV installations already undertaken by Vivant, in collaboration with Buskowitz Energy, include those of the Gothong private wharf in Cebu; as well as the campus of the Elizabeth Seton School in Las Piñas.
As emphasized by VREC President and CEO Emil Andre M. Garcia, in their company’s targeted projects within the Small Power Utilities Group or SPUG areas, “we find hybrid technologies to be highly viable.”
He added the Vivant group gives “high importance to both supply security and sustainability in our investments, with Garcia emphasizing that “we study renewables as well as technologies that combine both conventional and renewable.”
Buzkowitz Energy Chief Executive Officer James Buskowitz, for his part, noted that the P364 million worth of investments lined up by VREC, “will enable Buskowitz Energy to continue innovating and making positive impact on the country’s development.”
He stressed “the benefits of harnessing the power of the sun goes beyond lowering costs,” with him noting that “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.”
By far, solar rooftop installations would be among the suite of clean energy solutions that Filipino consumers can lean on – not just in lowering their overall electric bills, but more so, in making their noble contribution to the abatement of the more serious predicament of climate change risks.
Arlo G. Sarmiento, president of Vivant Energy Corporation, pointed out that “as a group, Vivant’s goal is to provide adaptable and forward-looking solutions that address sustainability while improving everyday living of communities.”
He explained that the core of their offered sustainable solutions to customers, will primarily be on renewables, “which is why we are committed to expanding our renewable energy capacity.”
The initial collaboration of Vivant and Buskowitz Energy could be traced back to 2019, when the latter was commissioned to provide engineering, procurement and construction (EPC) services for several rooftop solar projects of the Garcia-led firm.
At present, Buskowitz noted that the scale of solar capacity installations it had already undertaken for Vivant sums up to 2.4 megawatts.
The newly minted partners jointly stated that they are targeting “to power more communities with renewable energy, offer sustainable solutions and create a low-carbon future for the Philippines.”
