Basic Energy approves Lidar request

December 17, 2022

BASIC Energy Corp. (BEC) has approved Mabini Energy Corp.’s (MEC) for additional funding to purchase and install a light detection and ranging (Lidar) system in its service contract area.

Lidar is a remote sensing method that uses a pulsed laser to measure variable distances.

MEC, through its management team, presented the request for P10.818 million in additional funding for the Lidar purchase to Basic Energy’s board.

“Given the encouraging early and preliminary data being gathered by the existing MET mast already installed, the BEC board in its regular board meeting held on Dec. 15, 2022, has approved the request of MEC for additional funding to purchase and install a Lidar system in its service contract area,” Basic Energy said in a disclosure on Friday.

MEC management explained to the board that the Lidar equipment would supplement wind data gathering at the northern portion of the service contract area in view of a decision to move the meteorological mast southward.

The equipment will further enhance wind resource assessment data gathering and expand the coverage of the existing wind mast.

“The use of Lidar technology can avoid data extrapolations, hence, reducing uncertainties as well as the time needed to construct another meteorological mast,” Basic Energy said.

“Furthermore, its data would help in the detailed wind modeling which is critical in identifying wind turbine technology and its locations,” it added.Lidar technology is now being recommended and accepted by leading wind resource assessment institutions, the firm said.

source: https://www.manilatimes.net/2022/12/17/business/corporate-news/basic-energy-approves-lidar-request/1870579

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