The Department of Energy (DOE) awarded a certificate of authority (COA) for Basic Energy Corp.’s planned 43-megawatt-peak Cadiz 1 solar power project in Negros Occidental.
Basic said in a disclosure to the Philippine Stock Exchange this followed the board’s approval of a solar energy operating contract (SEOC) application for the project, disclosed on Dec. 4 2024, and the awarding of the COA for its 62-MW Bataan solar power project in Mariveles, Bataan.
“This milestone reinforces our commitment to expanding renewable energy solutions in the Philippines. Basic Energy Corp. is eager to advance the Cadiz 1 Solar Power Project and will provide updates as it progresses,” said Basic vice chairman and chief executive Oscar De Venecia Jr.
The DOE issued the COA under the revised Omnibus Guidelines Governing the Award and Administration of Renewable Energy Contracts (effective June 2024) and grants Basic the authority to secure necessary permits and tenure instruments for the project.
It also enables the company to initiate procurement activities in preparation for the 25-year SEOC contract term.
The Cadiz 1 solar project spans 30 hectares, and a preliminary assessment by an independent third-party firm estimates a peak generation capacity of at least 43 MW.
The company said that with the COA secured, Basic Energy would move forward with critical development activities, including obtaining approvals from national agencies and local government units.
Basic said it would also conduct a system impact study in collaboration with the National Grid Corp. of the Philippines (NGCP) to ensure seamless grid integration.