Vivant Corporation announced the successful completion of its divestment from Buskowitz Energy Inc., following the finalization of post-closing requirements and transaction documents by its subsidiary, Vivant Renewable Energy Corp. (VREC). The company bared this development in a filing with the Philippine Stock Exchange on Friday, noting that the transaction, which involves the sale of VREC’s 32.26 percent equity stake, was first announced in September when the stake was transferred to Aurora Sustainable Energy Pte. Ltd.
This move is part of Vivant’s broader strategic initiative to streamline its portfolio and focus resources on its core business segments, including retail energy supply and off-grid power solutions. The divestment marks a shift in Vivant’s investment priorities, although the company emphasized that Buskowitz Energy will remain a partner for solar engineering, procurement, and construction (EPC) services moving forward.
Vivant’s energy strategy remains on track, with a target to achieve a 70:30 split between conventional and renewable energy capacity by 2030. The company currently boasts an energy portfolio of approximately 382 megawatts, cementing its position as one of the leading energy providers in off-grid regions in the Philippines.
Buskowitz Energy, a local player in the solar energy sector, specializes in offering solar power purchase agreements, leases, and solar loans to facilitate the transition to renewable energy for both businesses and individuals.
This divestment reflects Vivant’s commitment to refining its investment approach while continuing to drive growth in sustainable energy solutions.
