Basic Energy Corporation (BEC), through its subsidiary Mabini Energy Corporation (MEC), is looking to secure a strategic partner for the development of its 50-megawatt (MW) Mabini wind farm project in Batangas.
In a disclosure to the Philippine Stock Exchange on Monday, MEC said that it “has signed Confidentiality Agreements with several parties who have shown interest in the ongoing development of the planned 50MW wind project.”
The Mabini Wind Power project is expected to generate a capacity of around 50 MW and will cover 4,860 hectares in the Mabini Peninsula.
MEC said that several entities have shown interest following the wind resource assessment (WRA) conducted in October 2022.
“Encouraged by their findings, some of these firms have furthered the discussions with MEC and have signified their intent to submit draft term sheets as potential partners in the Mabini Wind Power Project,” Basic Energy said in a statement.
MEC will be assessing the term sheets submitted to select a firm to become its strategic collaborator for the Mabini wind project.
“Further details will be provided once more definitive agreements are set to be executed among the parties,” Basic Energy said.
Basic Energy allotted an initial budget of Php 31 million for the Mabini Wind Project.