Basic Energy unveils pacts for Philippine wind, solar projects

Philippine holding company Basic Energy Corporation (PSE:BEC) has signed two separate pacts linked to the development of one solar and one wind project at home, each having a targeted capacity of 50 MW.

Basic Energy announced on Friday that it has been authorised by its board to sign a memorandum of understanding (MoU) with Japanese renewable power producer Renova Inc for the joint development of the Mabini wind project in the municipality of Mabini, Batangas province.

Further details about the contemplated partnership will be announced when the factual paper signing occurs.

Separately, Basic Energy said it has inked a MoU with Pangasinan 1 Electric Cooperative (PANELCO I) for the potential construction of a solar farm in the coastal province of Pangasinan.

Under the pact, Basic Energy will now undertake a distribution impact study (DIS) and distribution asset study (DAS) for the contemplated project, the company announced a day earlier.

Choose your newsletter by Renewables Now. Join for free!