Basic to build wind power plant


    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.

    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.