Basic Energy Corp. signed an agreement with From Energies International Ltd. of Spain to explore joint opportunities in developing Basic’s hydropower projects.

Basic Energy disclosed to the Philippine Stock Exchange Wednesday From Energies would explore and identify sources of funding and technical expertise requirements for the hydro projects, through its networks in the international energy business.

The company owns four hydropower service contracts with a combined capacity of nine megawatts in Negros Occidental. The contracts include the 2-megawatt Puntial 1, 2-MW Puntian 2, 3-MW Malogo 2 and 2-MW Talabaan hydropower projects.

The hydro service contracts cover the municipality of Murcia, Victoria City and Cadiz City, all in Negros Occidental.
Basic Energy earlier said the hydropower service contracts included the construction, installation, operation, maintenance and transmission.

The contract term covers a two-year non-extendible period from the effective date of the pre-development stage. The contract will remain in force for the balance of the period of 25 years upon declaration of commerciality.

The Energy Department earlier issued a certificate of registration to Basic Energy last month as a renewable energy developer for geothermal resources in Magallanes, Juban, Irosin, Bulusan, Magdalena, Matnog amd Bulan, Sorsogon.

Source: http://manilastandardtoday.com/2014/07/24/basic-energy-spanish-firm-team-up/