Vivant Renewable Energy Divests Stake In Buskowitz Energy To Focus On Core Businesses

Vivant Renewable Energy Corporation (VREC), a subsidiary of Vivant Energy Corporation (VEC), has announced the divestment of its 32.26% stake in Buskowitz Energy. This strategic move is part of VEC’s broader strategy to concentrate its investments on its core businesses, including retail energy supply (RES) and Small Power Utilities Group (SPUG).

Mark Habana, President and CEO of VREC, emphasized the rationale behind the divestment: “The decision to divest reflects VEC’s commitment to focusing on our core competencies. By realigning our investments, we aim to enhance our operational efficiency and strengthen our core business areas.”

James Buskowitz, President and CEO of Buskowitz Energy, acknowledged the collaborative history between the companies and expressed a positive outlook on future endeavors. “This decision stems from mutual respect and a shared vision for a sustainable future. We value our past collaboration and are eager to continue pursuing our growth strategies independently.”

Despite the divestment, VREC and Buskowitz Energy may continue their partnership in the realm of solar engineering, procurement, and construction (EPC). VEC remains committed to achieving its goal of a 70%-30% conventional and renewable energy capacity mix by 2030.

Buskowitz Energy specializes in solar development, offering solutions such as solar power purchase agreements (PPAs), leases, and loans to support the transition to renewable energy for both companies and individuals.

VREC, a fully owned subsidiary of VEC, is part of Vivant Corporation (PSE:VVT), a publicly listed conglomerate with a focus on energy-related investments.