Basic Energy Corporation has announced that the Department of Energy (DOE) has awarded a Certificate of Authority (COA), designating the company as the exclusive Solar Energy Developer for the Cadiz 1 Solar Power Project. The project will be implemented in Cadiz, Negros Occidental, and will cover approximately 30.34 hectares.
This milestone follows the Board of Directors’ approval of the company’s Solar Energy Operating Contract (SEOC) application on December 4, 2024, and the recent awarding of the COA for the Bataan Solar Project.
Under the revised Omnibus Guidelines Governing the Award and Administration of Renewable Energy Contracts (effective June 2024), the COA empowers Basic Energy Corporation to secure permits and tenure instruments required for project development. It also allows the company to commence procurement activities in preparation for the 25-year SEOC contract term.
Preliminary studies conducted by an independent third-party firm estimate the Cadiz 1 Solar Power Project will achieve a peak generation capacity of at least 43 megawatts (MWp), reinforcing the project’s significant contribution to renewable energy goals.
With the COA in hand, Basic Energy Corporation is set to initiate critical development activities. These include obtaining necessary approvals from national agencies and local government units, as well as conducting a System Impact Study in collaboration with the National Grid Corporation of the Philippines (NGCP) to ensure smooth integration into the power grid.
“This achievement underscores our commitment to advancing renewable energy initiatives in the Philippines,” said Oscar L. De Venecia Jr., Vice Chairman and CEO of Basic Energy Corporation. “We are excited to progress with the Cadiz 1 Solar Power Project and will share updates as we move forward.”
