Basic Energy seals contracts for 43 MW Cadiz solar farm

CADIZ CITY, Negros Occidental — Basic Energy Cadiz 1 Corp. (BE Cadiz 1) has signed engineering, procurement, and construction (EPC) contracts for its 43-megawatt alternating current (MWac) solar project here, moving the development closer to its targeted completion by the end of 2026.

The agreements, inked on March 17, bring in Raynergy Engineering Co., Ltd. as the offshore supplier and TBEA Subic, Inc. as the onshore contractor.

BE Cadiz 1 serves as the designated project owner and special purpose vehicle of Basic Energy Corporation, a publicly listed Philippine company with investments in renewable energy, alternative fuels, and oil and gas exploration. Basic Energy Corporation holds a Certificate of Authority as the exclusive solar energy developer of the project.

The solar facility was awarded a Certificate of Award under the Department of Energy’s Green Energy Auction 4 (GEA-4), securing its contribution to the country’s renewable energy targets.

With the EPC agreements now in place, the company said early works at the Cadiz site are expected to begin soon.

BE Cadiz 1 Chairman Oscar (“Carey”) L. De Venecia Jr. described the contract signing as a turning point for the project.

“The signing today signifies a major move forward in making the Cadiz solar project a success,” De Venecia said.

“Basic Energy Cadiz 1 Corp has full faith and confidence in our selected EPC partners. With our successful GEA 4 bid in place, and as we move into the early works phase, we are fully committed to ensuring this 43MWac project contributes to the national grid on schedule,” he added.

The 43 MWac solar farm is part of Basic Energy Corporation’s broader strategy to expand its renewable energy footprint in the Visayas and support the country’s shift to cleaner power.

The company has set a target to build up to 1 gigawatt of renewable energy capacity by 2030. Alongside the Cadiz project, it is developing a solar facility in Pangasinan and a wind project in Mabini, Batangas.