Basic Energy plans to develop 500 MW of wind and 500 MW of solar power projects by 2030. The company is progressing with a 50-MW wind project in Batangas and exploring additional projects in Panay, Calatagan, and Ilocos Norte.
Basic Energy Corporation plans to develop 500 megawatts (MW) of wind and 500 MW of solar energy projects by 2030, according to Oscar L. de Venecia, Jr., the company’s vice-chairman and CEO.
“In the next five years, [we aim] to build a portfolio of around 500 megawatts in wind and around close to 500 or 500 megawatts also in solar,” de Venecia said in an interview with BusinessWorld.
Wind and solar projects in the pipeline
Basic Energy is currently developing a 50-MW wind power project in Mabini, Batangas, through RDG Wind Energy Corp., a joint venture with Japanese renewable energy developer Renova, Inc. The P5-billion wind farm covers 4,860 hectares and is expected to be operational by 2028.
The Department of Energy awarded the wind energy service contract for the project in 2021. De Venecia said the company is open to expanding the project based on the results of its wind resource assessment.
“Based on what we’re seeing from the results of the wind resource assessment that was done, I think there is significant room for expansion,” he explained. “I think there’s still ample space on the ridges or the top to merit such expansion, but right now, our main concern really or our main thrust is to get the 50 MW up and running.
“Along the way, or once we get that 50 MW up and running, then we will make the necessary call on whether or not to expand.”
Following the Batangas project, the company’s next priority is an onshore wind project in Panay Island with a potential capacity of up to 200 MW. De Venecia said the company will start the wind resource assessment once it receives a favourable system impact study from the National Grid Corporation of the Philippines (NGCP).
The company is also planning two nearshore wind projects: a 150-MW project in Calatagan, Batangas, and a 100-MW project in Pasuquin, Ilocos Norte. Combined, the three wind projects are expected to cost around $760 million.
Expanding solar capacity
Basic Energy is also exploring solar energy projects to complement its wind portfolio. The company is in the process of applying for two solar power projects in Negros and Bataan with a combined capacity of 90 MW.
De Venecia said the company aims to establish a long-term presence in the renewable energy sector. “We will be commencing the wind resource assessment as soon as we have obtained a favourable system impact study from NGCP (National Grid Corp. of the Philippines). Once we have established that connectivity, we will go full swing already with resource assessment,” he said.
Long-term strategy and future plans
De Venecia said the company’s long-term strategy includes exploring newer energy technologies as part of its renewable energy push.
“We want to be a long-term participant in the energy sector. We have been here since the first discovery of oil in the Philippines,” he said. “As we keep growing, we also want to see where we can participate in bringing newer technologies later on.”
The company’s broader goal of developing 1 GW of renewable energy projects reflects the increasing demand for sustainable energy solutions in the Philippines.
