Basic Energy Corp. is eyeing investments of about P300 million over the next two to three years to develop renewable energy projects with a total capacity of around 150 megawatts.
Basic Energy president and chief executive Oscar De Venecia said on the sidelines of the company’s annual stockholders meeting that the budget allocation covers pre-development and ongoing solar and wind projects.
“Roughly, if you combine all three, maybe around 150 MW in total,” De Venecia said. “In the next years, for the ongoing projects, plus maybe pre-dev on the others, you’re looking somewhere around P300 million in the next two to three years.”
He added the company is exploring various funding options, including taking in partners.
Basic Energy’s flagship onshore wind project, the 50 MW Mabini Wind Energy Project in Batangas, has completed its wind resource assessment and permitting stages.
“Preliminary engineering design and feasibility studies are ongoing, and early results indicate strong potential for scale and viability,” De Venecia said. “The initial phase of this project is expected to generate 50 MW of clean energy capacity, translating to approximately 199 gigawatt-hours annually — enough to serve around 61,400 households.”
He said Basic is in the final stages of securing the interconnection agreement with National Grid Corp. of the Philippines (NGCP) and expects it to be concluded within the quarter.
The Mabini wind project is being developed by Basic under a 50/50 joint venture with Renova, a publicly listed renewable energy company in Japan with a proven track record in the development and operation of wind and solar assets across Asia. De Venecia said with the groundwork progressing steadily, commercial commissioning for the Mabini project is targeted by the second half of 2028.
Another promising development is the Panay Wind Energy Project, located in San Joaquin, Iloilo, and extending into parts of Hamtic, Antique.
“This initiative is currently in the pre-development stage, with preparatory activities including the engagement of technical consultants for the deployment of a meteorological mast,” De Venecia said. “This mast will be supported by advanced remote sensing technology such as LIDAR.”
ALNHe said preliminary studies conducted by UL Singapore suggest that the site could support an installed capacity of between 155 MW and 194 MW, to be directly connected to the main grid.
“To facilitate this, we secured an Offer-of-Service from NGCP for the conduct of a System Impact Study on May 11, 2025, and the preliminary result is very positive,” he said.
Basic is also developing the Mariveles Solar Power Plant in Bataan with an estimated capacity of 60.5 MW. This facility is designed to produce approximately 91.85 GWh of clean electricity annually, which can supply around 34,000 households.
“A significant milestone was reached on July 4, 2025, when NGCP approved the project’s System Impact Study, confirming that it can connect to the main grid via a nearby substation,” De Venecia said. “With development activities in full swing, we anticipate the plant’s commissioning by early 2027.”
The company is also advancing the Cadiz 1 Solar Power Plant in Negros Occidental, currently in the pre-development phase. With a planned capacity of 43.41 MW, the project is expected to generate 62.38 GWh annually, benefiting roughly 23,000 households. A Certificate of Authority was issued on March 24, 2025, under SCOA-2025-03-012, enabling Basic to begin the permitting process at both local and national levels. NGCP’s Offer-of-Service was issued on May 5, 2025, and the System Impact Study is now underway with good initial feedback. Commissioning is targeted for early 2027.
In Bolinao, Pangasinan, Basic is also developing a solar project on a 43-hectare company-owned site.
“This plant will have a potential capacity of 46.993 MWp and is projected to produce 74.187 GWh of electricity annually, enough to supply approximately 27,500 households,” he said. “We are in the process of securing an Offer-of-Service from NGCP to begin the System Impact Study. Once approved, the plant will be connected through an embedded system approach with Pangasinan I Electric Cooperative (PANELCO I).”
