Basic Energy Corporation announced that it has secured the Certificate of Award for its Cadiz 1 Solar Power Project after winning a bid under the fourth round of the government’s Green Energy Auction Program (GEA-4).

In a disclosure today, the company said the project involves a 43.410-megawatt alternating current (MWAC) solar facility located in Cadiz City, Negros Occidental. As a GEA-4 winning bidder, Basic Energy is entitled to deliver the full capacity it offered, subject to compliance with the auction program’s terms and the execution of the required project agreements.

The Certificate of Award follows an earlier grant that authorized the company to act as the exclusive solar energy developer of the Cadiz 1 project. With the award now in place, Basic Energy said it is proceeding with the completion of remaining project requirements.

The company said this includes the execution of the necessary agreements in preparation for the development of the project and its eventual delivery of electricity to the Visayas Grid.

Basic Energy said the Cadiz 1 Solar Power Project has a target commercial operations date on or before December 31, 2026. The company added that it will issue further disclosures as material developments and milestones are achieved.

How will new auction-backed solar projects like Cadiz 1 affect the Visayas power supply mix in the coming years?

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