MANILA – Basic Energy Corp has teamed up with a Spanish firm for the development of hydropower projects.
In a disclosure to the Philippine Stock Exchange, Basic Energy said it signed a memorandum of understanding with From Energies International Ltd for the joint development of hydro projects.
From Energies International is a company registered under the laws of Barcelona, Spain.
Under the agreement inked by the 2 parties, they “will seek to explore and identify sources for the funding and technical expertise requirements of said projects, through [From Energies International's] networks in the international energy business.”
Basic Energy’s hydropower projects are covered by service contracts awarded by the Department of Energy early this year, namely: Puntian 1 ( HSC2014-01-383, Puntian 2 ( HSC2014-01-384), Malogo 2 (HSC2014-01-385) and Talabaan (HSC2014-01-386). The projects are located in Negros Occidental.
Besides the hydro contracts, the local firm has interests in geothermal projects in the Philippines and oil concessions in Indonesia.
Source: http://www.interaksyon.com/business/91819/basic-energy-enlists-spanish-firms-help-in-building-hydropower-plants
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