Basic Energy Corporation recently expressed its interest to establish a 40 to 50 MW wind farm in Luzon, the cost of construction amounting to approximately $1.5-M per MW.
According to the Manila Times report, the firm has submitted a letter of interest to the Department of Energy (DOE) last month that sought to undertake a wind project in the region. In a recent interview, the Basic Energy Corporation President and CEO Oscar de Venecia Jr. said that the project is being finalized.
“Initial field visit indicated good potential and justified setting up of a wind mast in selected areas. The company has identified certain foreign technical and equity funders as partners for this project,” de Venecia was quoted saying in the report.
De Venecia also stated that the firm’s business development group is still evaluating whether their forecasts and the gathered data will prompt them to apply for a service contract with the Energy department. The firm still needs to attend meetings with the agency should they proceed with the application.
“Then we sit down with them and start negotiating the terms and conditions…nasa side na namin iyan when we decide to apply for the service contract,” de Venecia said.