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Manila Bulletin devider Business devider Buskowitz Energy to double solar capacity by year-end

Buskowitz Energy to double solar capacity by year-end

Published Nov 24, 2024 09:15 pm

Buskowitz Energy Inc., a local solar power provider, anticipates significant growth in its installed capacity by the end of the year, fueled by a recent investment from an international firm.

James Buskowitz, Buskowitz founder and chief executive officer, said that the company's current capacity of 30 megawatts (MW) is expected to increase by 20 to 30 MW by year-end, due to the new funding.

“Currently, we have about 30 MW, let’s say [we’ll have] around 60 MW or 50 MW by the end of the year… That’s just the Philippines,” he told reporters.

This growth follows a deal with PAC Sustainable Infrastructure Fund (A-SIF), a joint venture between investment manager PATRIZIA SE and Japan-based Mitsui & Co., Ltd.

The partnership secured $100 million (approximately P5.6 billion) in equity last October. Buskowitz plans to use this investment to expand its project portfolio by installing 12 more solar rooftop systems nationwide.

“[We’re] executing on the existing project we’ve recently signed. We’re doing 30 MW of projects simultaneously, there are 12 different sites from 12 different customers,” Buskowitz explained.

The company expects to reach partial commissioning of eight to nine MW on some projects by December, with an additional 20 MW coming online in the first quarter of 2025.

Most of Buskowitz's solar projects are located in Luzon, with some in Visayas and Mindanao.

“Metro Manila has the highest demand because of the commercial, and industrial customers in Luzon,” Buskowitz said, adding that the company's expansion into other regions is driven by clients with regional branches.

He noted, “In the earlier days, Visayas was one of the fastest, earlier adopters of solars. Many of our first projects were in Iloilo and Bacolod.”

While the company primarily focuses on the commercial and industrial sectors, it is open to expanding its residential market and working on government projects.

With a decade of experience in the renewable energy industry, Buskowitz has partnered with prominent companies like SM Supermalls, Robinson's, Coca-Cola, Shell, Petron, Metro Pacific Investments, North Luzon Expressway (NLEX), and McDonald's.

Since its inception, the company has commissioned around 300 projects for residential and commercial and industrial facilities.

Buskowitz's financial partner, Patrizia, is publicly listed on the Frankfurt Stock Exchange in Germany. Its Japanese partner, Mitsui, has a market capitalization of $62 billion and is listed on the Tokyo Stock Exchange.

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