Just weeks after the Corporation secured its Wind Energy Service Contract (WESC) from the Department of Energy (DOE) for its Panay Onshore Wind Power Project, Basic Energy Corporation has added another wind power prospect to its project pipeline as it just received from the DOE the approved WESC for its Balayan Nearshore Wind Power Project. The WESC received had an effective date of June 22 2023. The offshore area is located approximately 1km east of the Calatagan peninsula in Batangas.

Under the said service contract, the Company is appointed and constituted by the DOE to have an exclusive right to explore, develop and utilize the wind energy resources with the 2,835 hectares contracted area. With the WESC in place, the Company will initiate the deployment its resources for the wind resource assessment campaign to validate wind regime in the said area. The project will be able to generate and deliver power energy to the grid ranging from 140-168 MW power based on the 4-WTG model simulation done by a foreign third-party consultant.

The Company is expected to declare the project's commerciality within the provided 5-year period under the pre-development stage of the service contract and will disclose further details and developments as more definitive agreements and transactions come to pass. With the addition of the Balayan WESC to the existing Mabini and Panay WESC's, the wind power portfolio of Basic Energy stands at an estimated 350-400 MW. Service contracts for its other renewable energy project prospects are expected by the Company to come around in the near future as Basic Energy continues to build-up a robust renewable energy project portfolio.