MANILA -Listed Basic Energy Corp. (BEC) is set to develop a 155-megawatt (MW) onshore wind power plant spanning the provinces of Iloilo and Antique following the Department of Energy’s (DOE) approval of its service contract application for the project.
The wind plant will have a total land area of approximately 13,932 hectares and will be located in the municipalities of San Joaquin and Miag-ao in Iloilo, as well as Hamtic in Antique, BEC said in its disclosure to the Philippine Stock Exchange on Thursday.
It added that the facility could generate up to 175 MW based on preliminary studies.
“With the approval of the [wind energy] service contract, Basic Energy Corp. will commence to deploy its resources for the wind resource assessment campaign to determine the precise wind regime in the said area,” BEC said.
Under the service contract, BEC is expected to complete the predevelopment stage within five years, further boosting the company’s plans to expand its portfolio of renewable energy projects.
At present, BEC, through its subsidiary Mabini Energy Corp. (MEC), is developing a 50-MW wind project that was awarded by the DOE in 2021.
The contract grants MEC exclusive rights to explore, develop, finance and operate a wind power plant in Batangas province for a 25-year period.
BEC also has a 20-percent participating interest in the Iriga geothermal project operated by oil and gas company DESCO Inc. in Camarines Sur province.
The company’s renewable energy ventures are led by its wholly owned subsidiary Basic Energy Renewables Corp., which recently opened an electric vehicle charging station along Edsa as part of its clean energy transport program.