October 1, 2024 | 12:00am
MANILA, Philippines — Solar power firm Buskowitz Energy Inc. (BEI) is fueling its growth and expansion with up to $100-million investment from Germany’s Patrizia SE and Japan’s Mitsui & Co. Ltd.
The foreign companies will invest in BEI through the APAC Sustainable Infrastructure Fund (A-SIF), which is managed by their joint venture firm, Patrizia MBK Fund Management Pty. Ltd.
The investment, which involves the acquisition of primary and secondary shares, is expected to help BEI deliver its pipeline of solar projects with a combined capacity of over 500 megawatts peak (MWp) across the Philippines.
“With this investment, 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,” BEI founder and CEO James Buskowitz said.
Aside from expansion of installed capacity, the strategic deal with Patrizia and Mitsui will also offer resources to explore new and complementary initiatives to cater to the sustainability needs of BEI’s clients.
“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,” Buskowitz said.
Patrizia is a global real asset investment manager listed on Frankfurt Stock Exchange with €56 billion in assets under management, while Mitsui is a general trading firm listed on Tokyo Stock Exchange with a market capitalization of about $62 billion.
Saji Anantakrishnan, infrastructure head for Australia and Asia at Patrizia, said A-SIF’s investments were driven by the “fast-growing” renewable energy sector in the Philippines.
“Buskowitz Energy is the clear market leader, and we are excited to partner with James and his team to build the next generation renewable energy platform in the country,” he added.
Since its establishment in 2016, BEI has completed several marquee projects, such as the 3.2-MWp project for SM City Santa Rosa in Laguna, which is claimed to be the largest single rooftop solar system in any commercial mall in the country.
As a solar engineering, procurement and construction company, it has activated over 300 projects for residential, commercial and industrial facilities, including hotels, schools, gas stations, hospitals and manufacturing plants.
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