Publicly-listed firm Basic Energy Corporation has inked a deal with nv vogt Singapore Pte Ltd. for planned 10-megawatt peak (MWp) solar power developments in Pangasinan.

The targeted sites, according to Basic Energy, will be along its properties in San Fabian and Bolinao towns in the province.

A memorandum of understanding (MOU) was signed by the two firms on March 28, 2016 “for a joint interest in the development of solar power targeting a maximum of 10MWp per project.”

Aside from installations eyed in the two towns, the De Venecia-led firm hinted that other solar farm projects may also be pursued in sites that may be subsequently identified.

Basic Energy specified that “under the MOU, nv vogt Singapore Pte. Ltd. will conduct a due diligence study of the project, on an exclusive basis.”

This will be undertaken within 60 days from the singing of the propounded partnership arrangement.

The Singaporean firm is a solar power developer with investment focus in the Asian market, primarily the Southeast Asian region.

If ever, the solar developments to be pursued will be thriving in a post-feed-in-tariff regime, with the government sounding off that it is no longer inclined into having a third one after the second wave FIT due to be granted to qualified developers.

Source: http://www.mb.com.ph/basic-energy-to-build-pangasinan-solar-plant-with-singapore-partner/