Basic Energy Corporation has received a significant boost in its renewable energy ambitions after securing a Certificate of Authority (COA) from the Department of Energy (DOE) for the Cadiz 1 Solar Power Project in Negros Occidental.
The COA, granted under the revised Omnibus Guidelines Governing the Award and Administration of Renewable Energy Contracts (effective June 2024), authorizes Basic Energy to proceed with securing permits, tenure instruments, and initiating procurement activities. This marks a major milestone following the company’s December 2024 approval of its Solar Energy Operating Contract (SEOC) application and the recent COA issuance for its Bataan Solar Project.
The Cadiz 1 Solar Power Project, spanning approximately 30 hectares, is projected to deliver a peak generation capacity of at least 43 megawatts (MWp), based on an independent third-party assessment.
“This milestone reinforces our commitment to expanding renewable energy solutions in the Philippines. Basic Energy Corporation is eager to advance the Cadiz 1 Solar Power Project and will provide updates as it progresses,” said Basic Energy Vice Chairman and CEO Oscar L. De Venecia Jr.
With the COA secured, Basic Energy will commence critical development steps, including seeking approvals from national agencies and local government units. Additionally, the company will collaborate with the National Grid Corporation of the Philippines (NGCP) to conduct a System Impact Study, ensuring smooth integration into the national power grid.
The Cadiz 1 project aligns with the Philippines’ broader push for renewable energy, as the government continues to incentivize and streamline the development of clean energy projects under its revised regulatory framework.
What are your thoughts on Basic Energy’s latest move? Will the Cadiz 1 Solar Project contribute significantly to the country’s renewable energy targets? Share your opinions below. For the latest updates, follow PowerPH on Facebook.
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