BASIC ENERGY Corp. (BEC) is set to conduct distribution impact and asset studies for its potential 50-megawatt (MW) solar power project with its partner Pangasinan I Electric Cooperative (PANELCO I), the company said on Thursday.
In a regulatory filing, the listed energy company said it signed a memorandum of understanding with PANELCO I on Jan. 30.
The deal was to conduct a distribution impact study (DIS) and a distribution asset study (DAS) on the PANELCO I distribution utilities.
“The DIS and DAS are integral to optimize distribution networks and enhance reliability of PANELCO I’s current infrastructure. Furthermore, the DIS and DAS also ensures seamless integration of renewable energy resources into PANELCO I’s infrastructure, integral to BEC’s solar power project within the service area of PANELCO I,” Basic Energy said.
The planned studies are aimed to assess the capability of PANELCO I’s transmission systems and substations and to accommodate the solar power plant’s production, the company said.
The two parties also seek to “gain insights into the current state of the transmission system, identifying requisite improvements for optimal performance aligned with the solar power plant’s energy production.”
The planned solar power project will come in two phases with the development of the 10 MW capacity and BESS on the first phase and capacity of around 40 MW on the second phase. — Sheldeen Joy Talavera
On Monday, Basic Energy announced that its board had approved the partnership with Japanese renewable energy company Renova, Inc. for the joint development of the proposed 50-MW Mabini wind power project in Batangas.
The Mabini wind power project covers 4,860 hectares in the Mabini Peninsula. It is expected to operate and deliver power to the grid by 2027.
Shares of Basic Energy fell by 2.17% or P0.005 to close at P0.225 apiece. — Sheldeen Joy Talavera