Basic bags contract for wind power project

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    Basic Energy Corp. through subsidiary Mabini Energy Corp. has received the wind energy service contract (WESC) for its planned wind project in Mabini, Batangas with a potential capacity of 50 megawatts (MW), the company said in a disclosure to the Philippine Stock Exchange.

    The project which is expected to start commercial operations by 2027.

    The WESC gives Basic Energy five years for pre-development and 25 years for the development of the project in a 4,860-square meter land. The contract is extendible for another 25 years subject to approval from the Department of Energy (DOE).

    Basic Energy is into oil exploration and geothermal resource and solar power development.