Solarization, Power Storage and EV-Charging Facility in Retail Stations

The Green Energy E-Transport Program (GEEP) of the Filoil Group is a holistic end-to-end renewable energy initiative that will promote the use of renewable energy and address the government’s program to modernize public utility transport in the country. BEC’s participation focuses on the installation of a solar system with battery storage and e-charging facility at the retail station where the modern e-buses will be parked and charged. The solar system will partly supply the electrical load requirement of the retail station cheaper than from the supply grid. The vision of the program is to engage a large network of retail stations across the archipelago in partnership with the various oil companies and transport operators to jumpstart the creation of e-charging access which should stimulate the demand for electric vehicles.

Mabini Wind Power Project

Mabini Energy Corp. (MEC), a wholly owned subsidiary of the Basic Energy Corp., was awarded by the Department of Energy (DOE) through its Wind Energy Service Contract 2021-01-142 on 17 March 2021. The contract provides MEC the exclusive rights to explore, develop, finance, and operate a wind power plant facility for a period of 25 years, inclusive of the 5-year pre-development stage within the Mabini Peninsula. Currently, MEC is undertaking a wind resource assessment (WRA) campaign in Barangay Bagalangit in the Municipality of Mabini, Batangas. The company is targeting the commercial operation of the plant by Y2027 involving at least 10 wind turbine generators with capacity of 50 Megawatts.

Iriga Geothermal Energy Project

Through the Iriga Geothermal project, where BEC has a 20% participating interest, the company can explore the potential of the country’s geothermal resources and contribute to boosting renewable energy supply. Located in Iriga, Camarines Sur province, the project is currently in the pre-development stage. Project operator DESCO Inc., which has an 80% participating interest, is conducting site preparation and permitting activities which were stalled when the country enforced quarantine and health restrictions due to the COVID-19 pandemic. DESCO is targeting the drilling of the first exploratory well by the end of 2022 after obtaining local and national permitting works. It will then assess the geothermal reserve of the project and its viability to support a geothermal plant operation.

Property Investments

BEC invests in real property to support its business in addition to pursuing opportunities in the extractive industry and fulfill its vision to become a major supplier of renewable and alternative energy and allied products and services in the Philippines.