Basic Energy Corp. on Thursday received from the Department of Energy the approved service contract for its planned wind farm in Ilocos Norte, a project that will add to its growing renewable energy portfolio
It said the receipt of the service contract will allow it to start deploying resources and begin the development of the Ilocos Nearshore Wind Power Project located in a 5,502-hectare property in Pasuquin, Ilocos NorterBasic Energy said the project is seen delivering between 90 and 112 megaWatts to the Luzon grid based on a 4- model simulation done by a foreign third-party consultant.
The service contract gives Basic Energy exclusive right to explore, develop and utilize wind energy in the area.
Financial details of the project were not disclosed.
