Basic Energy Corp. is preparing to invest up to P300 million over the next two to three years to fund pre-development activities for its solar and wind energy projects, according to company president and CEO Oscar De Venecia Jr.
Speaking at a corporate event in Taguig City, De Venecia said the funding will support due diligence, site assessments, and early-stage permitting across multiple RE prospects under evaluation, with precise locations currently under non-disclosure agreements. The company is exploring varied funding mechanisms, including private placements and strategic partnerships with technical and financial collaborators.
Projects in the pipeline include the 60.5 MW Mariveles solar power project in Bataan, 43.41 MW Cadiz 1 in Negros Occidental, and a 46.993 MW solar facility in Bolinao, Pangasinan. In wind, development is ongoing for the 50 MW Mabini project in Batangas and the Panay wind project in Iloilo, which may scale to 155–194 MW.
The firm is also eyeing nearshore and offshore wind prospects in Calatagan, Batangas and Ilocos Norte, aligned with recent Department of Energy (DOE) permitting guidelines for offshore wind.
The initiative underscores Basic Energy’s intent to deepen its renewable energy portfolio, enhance its regulatory readiness, and attract corporate and commercial investment partnerships across the Philippine clean energy landscape.
