The Department of Energy (DOE) has given its go signal to the four hydro projects of Basic Energy Corp. in Western Visayas.
In a disclosure to the Philippine Stock Exchange, Basic Energy said that it has received the notice of approval from the DOE for its four hydropower service contract projects located in Negros Occidental.
Specifically, the projects that were approved are the 2-megawatt (MW) Puntian 1 Hydro–Power Project; 2-MW Puntian 2 HydroPower Project; 3-MW Malogo 2 HydroPower Project and 2-MW Talabaan Hydro–Power Project.
The hydropower service contract areas that were given to Basic Energy will cover the Municipality of Murcia, and the cities of Victoria and Cadiz, all in Negros Occidental.
The hydropower service contracts include hydropower exploration, development, production and utilization, including the construction, installation, operation and maintenance of hydropower systems to convert hydropower to electrical power and the transmission of the electrical power.
The contract term covers a two-year nonextendible period from effective date of Pre-Development Stage and upon Declaration of Commerciality. Also, the contract shall remain in force for the balance of the period of 25 years from effective date.
In December last year, the DOE approved Basic Energy’s geo–thermal project in West Bulusan, Sorsogon. Basically, the DOE awarded the company a geo–thermal renewable energy service contract for its West Bulusan, Sorsogon project.
Prior to that, Basic Energy also received three service contracts from the Energy department involving other exploration areas in Luzon, which covers three projects: the Iriga Geothermal Power Project; Mariveles Geo–thermal Power Project and the East Mankayan Geothermal Power Project.