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Manila Bulletin devider Business devider The Stock Market devider Basic Energy advances 43-MW solar project toward 2026 launch

Basic Energy advances 43-MW solar project toward 2026 launch

Published Jan 15, 2026 02:40 pm
Basic Energy Corp. (BEC) received a government award for its 43.41-megawatt solar facility in Negros Occidental, marking a step forward in the company’s pivot toward a 1,000-megawatt renewable energy portfolio.
In a disclosure to the Philippine Stock Exchange on Thursday, Jan. 15, Basic Energy  said the company, which has historically focused on oil and gas, obtained the Certificate of Award for its Cadiz 1 Solar Power Project under the fourth round of the Department of Energy’s Green Energy Auction Program.
The project is slated to begin commercial operations by Dec. 31, 2026, delivering electricity to the Visayas grid.
The award allows Basic Energy to finalize development requirements and project agreements necessary for construction. It follows a preliminary authorization granted in March 2025, which designated the company as the exclusive developer for the site.
Since then, the firm has been securing permits from national agencies and local government units in Cadiz City while coordinating with the National Grid Corporation of the Philippines for a system impact study to ensure the plant can safely connect to the transmission network.
Under the terms of the auction program, Basic Energy is committed to delivering its offered capacity provided it meets the government's compliance benchmarks.
The move is part of a broader strategy by the company to diversify away from traditional resource exploration and toward cleaner power sources. Basic Energy currently aims to build 500 megawatts of wind capacity and 500 megawatts of solar capacity over the next five years.
The push into renewable energy comes as the Philippines seeks to increase the share of clean power in its energy mix to 35 percent by 2030. Success in the auction rounds is critical for developers as it provides a guaranteed market for their electricity.
Basic Energy’s entry into the Visayas market is particularly strategic given the region's recurring power supply fluctuations and the growing demand for industrial electricity in central Philippines.
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