MANILA – Basic Energy Corp has won the 25-year contract over four hydro power projects in Negros Occidental from the government.
In a statement, Basic Energy said that the Department of Energy awarded it service contracts to develop small hydroelectric power facilities in Murcia, Valencia City in the said province. These power plants include the 2 megawatt (MW) Puntian 1; 2 MW Puntian 2; 3 MW Malogo 2; and 2 MW Talabaan projects.
Under its contract with the government, Basic Energy will explore and develop the renewable energy resources over a two-year non-extendable pre-development stage.
Upon declaration of commerciality, the contract shall run for 25 years.
Besides the hydro facilities, Basic Energy also has interests in four geothermal concessions in Batangas, Benguet, Camarines Sur and Sorsogon.
The company is also drilling for oil in Indonesia in partnership with Petrosolve Sdn Bhd of Malaysia and natural gas in the Progreso prospect in onshore Mindoro under the Service Contract 53 consortium
Source: http://www.interaksyon.com/business/80910/basic-energy-bags-4-hydro-projects-in-negros-occidental
LISTED Basic Energy Corp. is set to begin processing the necessary permits for its proposed solar power project in Bolinao, Pangasinan, after securing a certificate from the government. In a regulatory filing on Thursday, Basic Energy said the Department of Energy (DoE) granted the company a certificate of authority (CoA) for its proposed solar energy…
read moreBasic Energy Corporation announced that the Department of Energy (DOE) has granted the company a Certificate of Authority (COA) for its proposed Solar Energy Operating Contract (SEOC) application for the Bolinao, Pangasinan Solar Power Project. The COA, issued under the revised Omnibus Guidelines Governing the Award and Administration of Renewable Energy (RE) Contracts effective June…
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