Basic energy corporation announced a significant milestone in its renewable energy initiatives through the signing of a joint development and shareholders agreement (JDSHA) with its esteemed partner RENOVA Inc. This pivotal agreement, finalized at the grand Hyatt Manila, cements the strategic alliance between the two companies and heralds a major advance in the development of the mabini wind power project. Current status of the mabini wind energy project: Set a crosses sprawling 4,860 hectare contract area under wind energy service contract No. 2021-01-142, the mabini wind power project epitomizes basic energies steadfast commitment to supporting the Philippine?s renewable energy goals and promoting environmental sustainability.

Spearheaded by mabini energy corporation, a subsidiary specially designated for this venture, the project aims to hearness wind energy resources to significantly reduce carbon emissions and enhance the nations energy security. The journey of the project began with the installation of a 120 metre metrological mast in barangay san teodoro, mabini in November 2022. This was followed by the deployment of LIDAR technology in barangay Estrella, mabini in June 2023.

This sophisticated tools are key in carrying out a thorough wind resources assessment, which is essential for assessing the projects viability and estimating its potential annual energy production. The WRA is anticipated to be completed by May 2024, which will facilitate the selection of the most suitable wind turbine generators for the site. The wind energy service content covers a 25 year term including a 5 year pre-development phase and an option for 25 years extension, ensuring long term sustainability and energy stability for the region.

Once operational, the mabini wind power project is expected to contribute at least 150 MW of clean energy to the National Grid, reinforcing basic energy?s leadership in renewable energy initiatives. In accordance with the Renewable Energy Act of 2008 (RA No. 9513) the mabini wind power project not only meets the nation?s energy demands but also promotes economic growth and community development in mabini and surrounding areas.

This project is a testament to basic energy?s commitment to sustainable development and environmental stewardship, setting the state stage for a more sustainable and sports spurious future. With the execution of the JDSHA, Renova Inc. has committed to partnering on a 50:50 equity basis with basic energy mabina energy corporation, enhancing the collaboration and reinforcing their mutual commitment to fostering a cleaner, brighter future.