Basic Energy Corporation (BEC), through its wholly-owned subsidiary Basic Energy Cadiz 1 Corporation (BECC), marked a definitive milestone in the development of its 43MWac ground-mounted solar project in Cadiz City, Negros Occidental.
At a signing ceremony held at the Manila Polo Club, BECC finalized the Engineering, Procurement, and Construction (EPC) agreements for both offshore and onshore components. The partnership brings together industry leaders to ensure the project’s technical and operational success:
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Project Owner: Basic Energy Cadiz 1 Corporation (BECC)
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Offshore Supplier: Raynergy Engineering Co., Ltd.
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Onshore Contractor: TBEA Subic, Inc.
This milestone follows BEC’s successful bid in the Green Energy Auction 4 (GEA 4) earlier this January. The government award provides a guaranteed framework for the project’s power generation, cementing its role in achieving the Philippines’ national renewable energy targets.
With the EPC agreements now executed, the project enters its next phase. Early works at the Cadiz site are scheduled to begin immediately, keeping the project firmly on track for its target completion by the end of 2026.
“The signing today signifies a major move forward in making the Cadiz solar project a success,” said Oscar “Carey” L. De Venecia Jr., Chairman of BECC. “We have full faith and confidence in our selected EPC partners. With our successful GEA 4 bid and the commencement of early works, we are fully committed to ensuring this 43MWac project contributes to the national grid on schedule.”
The 43MWac solar farm is a cornerstone of BEC’s broader strategy to expand its renewable energy footprint. By increasing clean power capacity in the Visayas region, the project supports the national transition toward sustainable energy and grid reliability.
BEC holds the exclusive Certificate of Authority as the solar energy developer for the project, which will be officially assigned to BECC as the designated Special Purpose Vehicle.
