Buskowitz Energy readies 30 MW solar projects

MANILA, Philippines — Solar power firm Buskowitz Energy Inc. (BEI) is further expanding its solar portfolio with more projects coming on stream, positioning itself for a potential public debut in the medium term.

After sealing a $100-million investment from Germany’s Patrizia SE and Japan’s Mitsui & Co. Ltd. last week, BEI founder and CEO James Buskowitz is now laser-focused on bringing recently signed projects to life.

“We’re doing 30 megawatts (MW) of projects simultaneously. There are 12 different sites from 12 different customers,” Buskowitz said.

In particular, the company is gearing up for the partial commissioning of solar rooftop projects with a combined capacity of up to nine MW by next month, with additional projects expected to follow by February.

Commissioning involves the final steps before a solar photovoltaic system begins full operation, ensuring that every component is fully integrated and the system is primed for safe and efficient performance.

“Overall, our goal is sustainability and developing renewable energy. Solar has been a path to this goal, as solar rooftop alone is already underserved,” said Buskowitz, who is seeing the highest demand in Metro Manila.

He also expects the recently signed multimillion-dollar investment to propel BEI to greater heights, giving the company the financial firepower to accelerate the rollout of solar projects for both commercial and residential clients.

This synergy with Patrizia and Mitsui, Buskowitz said, is both crucial and strategic for BEI amid plans to execute and deliver “as many MW to the Philippine market as possible.”

The foreign companies have invested in BEI through the APAC Sustainable Infrastructure Fund, which is managed by their joint venture firm, Patrizia MBK Fund Management Pty. Ltd.

Patrizia is a global real asset investment manager listed on the 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.

“For Patrizia and Mitsui’s point of view, it’s all about growth and supporting that growth; that’s why we’re here. We’re hopeful that we can add growth together in the region and a very successful partnership,” said Saji Anantakrishnan, infrastructure head for Australia and Asia at Patrizia.

With Patrizia and Mitsui now on board, BEI is bullish about its potential to achieve the scale required for a future initial public offering, a strategic move aimed at raising capital by offering shares to public investors.

“It’s (IPO) always something that we consider. As an entrepreneur, it’s something that I find very interesting,” said Buskowitz, adding that it could happen after “five years.”