posted March 28, 2016 at 11:20 pm by The
Standard Sports
Basic Energy Corp. said Monday it
teamed up with solar power developer nv vogt Singapore Pte. Ltd. in line with
its goal to develop alternative energy sources.
Basic Energy said the agreement with
nv vogt covered the development of solar power projects in San Fabian and
Bolinao, Pangasinan and other sites deemed ideal for solar power development.
Under the memorandum of
understanding, signed by Basic Energy president Oscar De Venecia Jr. and nv
vogt president Vivek Chaudhri, the two companies would conduct due diligence
aimed at getting the initial solar project off the ground in BEC’s property in
San Fabian, Pangasinan.
The property has a total lot area of
17.8 hectares, with the first phase expected to yield 10 megawatts-peak.
Basic Energy said it was charged to
secure all the necessary local and national government permits required for the
project, starting with the filing of a letter of intent with the Energy
Department.
Earlier this year, nv vogt switched
on a 6.25-MWp solar plant operating under a bilateral power purchase agreement
with SoCoTeco-1 in Koronadal, South Cotabato, the first PPA signed in the
Philippines.
Armstrong Asset Management committed
to provide $29 million to fund the construction of a series of solar power
projects in the Philippines under the auspices of nv vogt.
Basic Energy said it was preparing
for the drilling of the first well in Geothermal Service Contract No. 8 in
Mabini, Batangas in May this year. Initial studies pegged the resource at a
minimum 20 MWp.
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