Local firm Buskowitz Energy Inc. is boosting its solar power projects with an expected equity infusion of $100 million from foreign investors. Solar panels stock image
Local firm Buskowitz Energy Inc. is boosting its solar power projects with an expected equity infusion of $100 million from foreign investors.
Buskowitz, a provider of rooftop solar and renewable energy solutions, said Monday it secured the investment from APAC Sustainable Infrastructure Fund (A-SIF), being led by real assets manager Patrizia Se and Japanese investment firm Mitsui & Co., Ltd.
The new capital, involving a combination of primary and secondary share acquisition, is seen to bolster Buskowitz’s target to activate solar power projects with a capacity of more than 500 megawatts peak across the Philippines.
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“With this investment, backed by industry leaders Patrizia and Mitsui, we gain partners with a global reputation for excellence, who understand our long-term goals, commitment to growth, and share our dedication to meaningful collaboration,” said James Buskowitz, founder and chief executive officer of Buskowitz.
The group is also optimistic the investment could help it explore “new and complementary” solutions for its clients to pursue sustainability goals.
“We are excited to work with partners who are fully aligned with our mission, providing the depth of support necessary to drive both our business and the energy transition of the Philippines forward,” he added.
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Patrizia is listed on the Frankfurt Stock Exchange with €56 billion in assets under management, while Japan’s Mitsui is a trading firm giant listed on the Tokyo Stock Exchange with a market capitalization of about $62 billion.
Established in the local market almost a decade ago, Buskowitz has been making a name in the renewable energy space. It was previously tapped by retail titan SM Supermalls to equip SM City Santa Rosa in Laguna with a roof solar energy system, the largest yet installed on any commercial mall nationwide.
It also had partnerships with other big companies, such as Coca-Cola, Unilab, Shell, Robinson’s, Petron, Metro Pacific Investments, NLEX, and McDonald’s, among others.