Basic Energy puts up meteorological mast in Batangas

LISTED firm Basic Energy Corp., through its subsidiary Mabini Energy Corp., has installed a meteorological (met) mast in Mabini, Batangas for its 50-megawatt Mabini wind energy project.

In a disclosure to the stock exchange, Basic Energy said that its wind power farm is expected to operate and deliver power to the grid by 2027.

It said that a one-week functional test of the met mast was conducted to ensure that it will perform according to its design intent during wind resource assessment. The test will help verify the wind characteristics of the area of the wind power farm.

“A favorable one-year period of assessment campaign will lead to the micro siting process to determine the wind turbine locations as well as its design,” the company said.

In a disclosure on Sept. 30, Basic Energy said that its board approved a budget of P6.35 million for wind prospecting to search and develop other power plant projects such as solar and wind in seven areas for possible power development. The company did not identify the areas.

Basic Energy has business interests in various fields of renewable energy and alternative fuels, and oil and gas exploration and development.

At the stock exchange, shares in Basic Energy closed 1.69% higher to finish at three centavos apiece. — Ashley Erika O. Jose