Basic Energy Company and RENOVA Inc. Form a Partnership for the Mabini Wind Power Project

Basic Energy Corporation and its prestigious partner, RENOVA Inc., signed a Joint Development & Shareholders Agreement (JDSHA), marking a major milestone in the company's renewable energy activities. This significant agreement solidifies the two businesses' strategic partnership and marks a significant advancement in the Mabini Wind Power Project's development.

Set across a sprawling 4,860-hectare contract area under Wind Energy Service Contract (WESC) No. 2021-01-142, the Mabini Wind Power Project epitomizes Basic Energy’s steadfast commitment to supporting the Philippines' renewable energy goals and promoting environmental sustainability. Spearheaded by Mabini Energy Corporation (MEC), a subsidiary specially designated for this venture, the project aims to harness wind energy resources to significantly reduce carbon emissions and enhance the nation's energy security.

The journey of the project began with the installation of a 120-meter Meteorological Mast (MetMast) in Barangay San Teodoro, Mabini, in November 2022. This was followed by the deployment of state-of-the art LIDAR technology in Barangay Estrella, Mabini, in June 2023. These sophisticated tools are key in carrying out a thorough Wind Resource Assessment (WRA), which is essential for assessing the project's viability and estimating its potential Annual Energy Production (AEP). The WRA is anticipated to be completed by May 024, which will facilitate the selection of the most suitable Wind Turbine Generators (WTG) for the site.
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The 25-year Wind Energy Service Contract guarantees the region's long-term sustainability and energy stability. It also includes a 5-year development period and a 25-year extension option. The Mabini Wind Power Project is anticipated to strengthen Basic Energy's position as a pioneer in renewable energy efforts by adding at least 50 MW of clean electricity to the national grid once it is operational.

In compliance with RA No. 9513, the Renewable Energy Act of 2008, the Mabini Wind Power Project serves not only to supply the country's energy needs but also to foster community development and economic expansion in Mabini and its environs. This project lays the groundwork for a more sustainable and prosperous future and demonstrates Basic Energy's dedication to environmental stewardship and sustainable development.

With the JDSHA's execution, RENOVA Inc. committed to partner with Basic Energy in Mabini Energy Corporation on a 50:50 equity basis, strengthening their partnership and reaffirming their shared goal of promoting a cleaner, more promising future.