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Manila Bulletin devider Business devider Basic Energy inks partnership deal with Japanese firm for Mabini wind power project

Basic Energy inks partnership deal with Japanese firm for Mabini wind power project

Published Apr 17, 2024 07:39 am

At A Glance

  • The wind power project, which will be developed under corporate vehicle Mabini Energy Corporation (MEC), straddles a total area of 4,860 hectares as anchored on the wind energy service contract (WESC) awarded by the Department of Energy.<br> 

Listed Filipino firm Basic Energy Corporation has sealed a 50:50 joint venture pact with Japanese firm Renova Inc. for the commercial development of Mabini wind power project that could potentially yield 50-megawatt capacity addition to the country’s power supply.

Basic Energy announced that the tie-up was formalized through the signing of a joint development and shareholders agreement (JDSHA) with the Tokyo-headquartered foreign partner on Wednesday (April 17).

Basic Energy Renova.jpg

“This pivotal agreement cements the strategic alliance between the two companies and heralds a major advance in the development of the Mabini wind power project,” the Filipino firm said.

The wind power project, which will be developed under corporate vehicle Mabini Energy Corporation (MEC), straddles a total area of 4,860 hectares as anchored on the wind energy service contract (WESC) awarded by the Department of Energy.

“The project aims to harness wind energy resources to significantly reduce carbon emissions and enhance the nation's energy security,” Basic Energy noted.

The Japanese firm-partner, in particular, has investment portfolios across renewable energy technologies – ranging from wind and solar farms, to biomass as well as geothermal and hydropower projects.

Additionally, Renova is setting its sights on businesses for new technologies – including those on battery storage, ammonia and green hydrogen.

For the joint development at Mabini wind farm project, resource assessment started in November 2022 with the installation of a 120-meter meteorological mast at the targeted site in San Teodoro, Mabini in Batangas province.

Following that, a light detection and ranging (LIDAR) technology was deployed at Barangay Estrella, also in Mabini – and that was primarily targeted to measure the speed of wind resource that could interact with a wind turbine rotor.

Basic Energy explained “these sophisticated tools are key in carrying out a thorough wind resource assessment (WRA), which is essential for assessing the project's viability and estimating its potential annual energy production.”

The wind resource assessment phase is expected to be concluded by next month – and that will correspondingly guide the project sponsor-firms on the selection of the most suitable site for the erection of the wind turbine generators.

“Once operational, the Mabini wind power project is expected to contribute at least 50 MW of clean energy to the national grid, reinforcing Basic Energy’s leadership in renewable energy initiatives,” the listed Filipino firm indicated.

The company’s service contract for the proposed facility spans through initial 25-year term, with option for 25-year extension; and the pre-development stage for the project has been set within five years. 

 

Related Tags

joint venture Department of Energy (DOE) Basic Energy Renova Inc wind farm development
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