PUBLICLY listed power company Basic Energy Corp. has struck a memorandum of understanding with a Singaporean solar-power developer for the joint development of a solar-power plant in Pangasinan.

The project calls for the development of about 10 megawatts of solar energy per project in the property owned by Basic Energy in San Fabian and Bolinao in Pangasinan, and other properties yet to be identified.

Under the agreement, nv vogt Singapore Pte. Ltd. will conduct a due-diligence study of the project on an exclusive basis in the next two months.

Basic Energy held equity investments in the following subsidiaries: Basic Diversified Industrial Holdings Inc., an investment holding company; iBasic Inc., an information-technology management company and service integrator; Basic Biofuels Corp., a biofuels developer; Basic Ecomarket Farms Inc., an agricultural company; Basic Geothermal Energy Corp., which is into geothermal energy development; and Southwest Resources Inc., an oil-exploration company.

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