THE Department of Energy (DOE) has awarded Basic Energy Corp. a contract for its planned wind power project in Ilocos.
“Basic Energy sees its prospective project pipeline close the year on a positive note as it received from the DOE the approved wind energy service contract [WESC], with an effective date of September 15, 2023, for its prospective Ilocos Nearshore Wind Power Project,” Basic Energy said in a disclosure to the stock exchange on Thursday.
Under the WESC, Basic Energy will have the exclusive right to explore, develop and utilize the wind energy resources in the 5,502.54 hectares contracted area.
“With the effectivity of the said contract, the company will now initiate the deployment of its resources for the wind resource assessment campaign to validate wind regime in the said area. The project is seen to be able to generate and deliver power energy to the grid ranging from 90 to 112 megawatt (MW) power based on the four-model simulation done by a foreign third-party consultant.”
The project, which is located in Pasuquin, Ilocos Norte, is the latest addition to the company’s growing portfolio of wind projects which it is looks forward to developing.
BEC, through its subsidiary Mabini Energy Corp. (MEC), is developing a 50MW wind project that was awarded by the DOE in 2021. It also has a 20-percent participating interest in the Iriga geothermal project operated by oil and gas company DESCO Inc. in Camarines Sur province.
In June, the company was also awarded a WESC for its planned onshore wind (OSW) power plant in San Joaquin and Miag-ao, Iloilo and Hamtic Antique. The proposed OSW project is expected to generate a capacity of at least 150-175 MW based on the preliminary study done by an independent party. It is expected to complete the pre-development stage in a five-year period as committed under the said service contract.
Basic Energy also formed a new renewable energy (RE) unit, Basic Renewables Energy Corp., which will handle the e-charging/solarization project. It has also earlier teamed up with French-multinational oil company Total and independent players, such as EcoOil and Filpride-USA88, for its initial solarization and e-transport project.
The solarization of 1,500 retail stations coupled with complementary operation of 3,000 electric buses is envisioned by the company as part of its Green Energy E-Transport Project.
Under the project, the company is installing solar panels in the gas stations where energy could be stored in power storage and charging facilities that will power up e-buses.