Basic Energy partners with Thailand’s Vintage Engineering

Renewables company Basic Energy said Thursday it has partnered with Thailand’s Vintage engineering for projects here and abroad. Vintage Engineering will buy 9 percent of Basic Energy for P139.4 million, with the option to increase its shareholdings to 25 percent, the Filipino firm told the stock exchange. Read more here.

Basic Energy seeks to develop more solar farms

BASIC ENERGY Corp. is looking to develop three of its properties into solar farms that can bring “immediate impact” on the bottom line, its president said. He said the company’s current projects have long-term gestation periods, which is why it is looking at new projects that can have an immediate impact on its bottom line.  Read…

Basic Energy to pursue 3 RE projects

BASIC Energy Corp. is pursuing two to three renewable-energy projects, including the installation of solar photovoltaic farms, aimed at making the company profitable at the soonest time possible. Its geothermal projects include Mariveles Geothermal Power Project , the East Mankayan Geothermal Power Project, the West Bulusan Geothermal Power Project, Iriga Geothermal Power Project and the Mabini,…

Drilling begins at Mabini geothermal project

The consortium operating the Mabini geothermal project in Batangas and composed of Basic Energy Corp. and Trans-Asia Oil and Energy Development Corp. has started drilling an exploratory well with a minimum depth of 1,500 meter, which will determine the steam resource available in the service contract.  The consortium said drilling will take about three months…