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Basic Energy Corp. is studying the possibility of putting up a wind power project in Luzon with an estimated capacity of 40 to 50 megawatts (MW).
Oscar De Venecia Jr., Basic president and chief executive officer, said the company submitted a letter of interest to the Department of Energy (DOE).
De Venecia said Basic will bring in a foreign technical partner for the project. He did not provide the investment cost but the current but said it a wind power project will require an investment of $1.5 million per MW.
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He said a final decision on the project will be made no later than first quarter next year.
Basic is into oil exploration, geothermal resource and solar power developments.
