Basic Energy to jumpstart dev’t of Mabini wind project
By Myrna M. Velasco – March 2, 2022, 4:07 PM
from Manila Bulletin
Listed firm Basic Energy Corporation (BEC) will jumpstart the development of its proposed 50-megawatt wind farm project in Mabini, Batangas following its board’s approval of initial budget allocation of P31 million for the venture.
“The wind resource assessment (WRA) for the Mabini wind power project has been approved and will be initiated soon,” the company has stipulated in its disclosure to the Philippine Stock Exchange.
Basic Energy similarly emphasized that “discussions with the land owner upon which the met-mast will be installed,” have been ongoing – and that had been going along with required coordination works with the local government unit (LGU) for the necessary permits and licenses to be secured for the project.
The targeted wind farm power installation will be placed under corporate vehicle Mabini Energy Corporation, which will serve as a wholly owned subsidiary of Basic Energy.
The renewable energy service contract awarded by the Department of Energy (DOE) last year for the proposed wind power facility covers an area of 4,860 square meters of land – but the final blueprint will be subject to the outcome of the resource assessment on the actual wind energy potential of the targeted site.
The firm’s service contract sets a five-year non-extendible pre-development stage for the venture; and if the resource will be established viable for commerciality, the development stage will be for 25 years.
As previously stated by Basic Energy, the wind farm venture has a potential capacity of 50MW and is projected to start commercial operations by 2027 or five (5) years from date of awarding of the service contract.
Beyond advancing the implementation of its wind project, Basic Energy indicated that it will likewise be stepping up on its rollout of ‘green transport solutions’ for the country.
As cast by the company, it targets to accomplish that through the “solarization of around 30 retail station sites coupled with complementary projects and tie-ups with other commercial and/or public transport entities/groups;” and that shall be coupled with procurement of at least 60 electric buses.
“The board of Basic Energy had decided to proceed with initiatory actions and negotiations on the solarization project,” the company pointed out.
Basic Energy conveyed it is now marketing this project concept to at least 15 oil companies; and so far, “five oil companies have shown interest and have signed the respective MOUs (memorandum of understanding) to proceed with further discussions on the terms and conditions; determine prospective sites; proceed with pilot installations; and commence feasibility studies and data gathering.”
It expounded that the green transport venture of the firm will be initially housed under parent firm BEC, until its board comes to a decision “on which corporate vehicle to use, taking into consideration the requirements to be met once project becomes fully operational.”
For that undertaking, Basic Energy noted that the proposed capital expenditure had been placed at P40 million for this year and approval is now being sought from the company’s board.
