BASIC ENERGY CORP. expects to complete its 50-megawatt (MW) wind power project in Mabini, Batangas by early 2028, its president said.

“The wind power project in Mabini, Batangas is moving forward as planned and on track for completion by the first quarter of 2028,” Basic Energy President and Chief Operating Officer Luisito V. Poblete told BusinessWorld in a Viber message. “Construction is likely by mid-2026.”

The Mabini wind power project covers 4,860 hectares in the Mabini peninsula in Batangas province south of the Philippine capital. The Department of Energy awarded the service contract to the company in 2021.

The contract is for 25 years, including a five-year pre-development phase, and may be extended for another 25 years.

Mr. Poblete said the project will cost $80-85 million. “Currently, initial exploratory discussions with potential funding institutions including local banks [are] under way,” he said.

Basic Energy seeks to complete the full feasibility study for the wind project by March 2025.

Mr. Poblete said the company has completed the grid connection assessment and has started the system impact study with the National Grid Corp. of the Philippines.

“There is enough capacity to accommodate the interconnection of the 50-MW WPP (wind power project),” he added.

In April, Basic Energy entered an agreement with Japanese renewable energy developer Renova, Inc. to form a joint venture for the development of the wind energy project.

Renova develops and operates renewable energy sources including solar, wind, biomass, geothermal and hydropower, according to its website.

Source: https://www.bworldonline.com/corporate/2024/10/28/630834/basic-to-complete-batangas-wind-project-by-early-2028/