Basic Energy Corp. (BEC) has received a certificate of authority (COA) from the Department of Energy (DOE) for its Mariveles solar power plant, enabling expedited permit processing and procurement activities.
In a disclosure to the Philippine Stock Exchange on Wednesday, March 19, BEC stated that the COA will facilitate the acquisition of necessary permits and tenure instruments, as well as the procurement of materials before the solar energy operating contract (SEOC) is finalized.
In December, BEC's board approved the application for a 25-year SEOC, which established the terms and conditions for project operation and management, advancing the development.
The Mariveles solar farm, planned for a 72-hectare site in Bataan, is expected to generate approximately 62 megawatts peak (MWp).
“With the COA secured, [we] will now move forward with the next steps in the development process. This includes obtaining approvals from relevant national agencies and local government units, as well as conducting a system impact study (SIS) in collaboration with the National Grid Corporation of the Philippines (NGCP),” it stated.
Last week, BEC announced its target of approximately 500 MW of solar capacity within five years, with two projects currently under DOE application and a proposed Pangasinan project awaiting application.
Additionally, the company plans to invest around $760 million (approximately ₱43.5 billion) in wind energy projects, targeting a total capacity of 380 MW across Panay, Batangas, and Ilocos Norte. This estimate is based on the industry standard of $2 million per MW.
Basic Energy is a publicly listed company with interests in various renewable energy (RE) technologies, alternative fuels, and oil and gas exploration and development.