Basic Energy Corporation (PSE: BSC) has taken a major step forward in building a new solar power plant in the Philippines. On March 18, 2026, the company’s subsidiary signed important construction contracts for a solar energy project in Cadiz, Negros Occidental.
What’s Happening?
According to a disclosure filed with the Securities and Exchange Commission (SEC), Basic Energy Cadiz 1 Corporation (BE Cadiz 1) – a company fully owned by Basic Energy Corporation – signed what’s called EPC agreements. EPC stands for Engineering, Procurement, and Construction, which basically means the contracts cover everything needed to design, buy equipment for, and build the solar power plant.
The project will generate 43 megawatts (MWac) of solar power. To put that in perspective, that’s enough electricity to power thousands of homes in the area.
Understanding the Players
Think of it like building a house: Basic Energy Corporation is like the homeowner, while BE Cadiz 1 is the specific entity set up just to handle this one project. In business terms, BE Cadiz 1 is what’s called a “Special Purpose Vehicle” – a separate company created specifically to manage this solar power project.
What Are the EPC Agreements?
The company signed two separate EPC agreements:
- Onshore EPC Agreement: This covers the construction work on land
- Offshore EPC Agreement: This handles components and work that may be done outside the Philippines
About Basic Energy Corporation
Basic Energy Corporation is a publicly listed company on the Philippine Stock Exchange, trading under the ticker symbol BSC. The company has 14,668,643,064 total common shares, with 14,218,643,064 shares listed and available for trading on the exchange.
The company operates from its principal office at GM Building, Florida St., Barangay Wack-Wack, Greenhills East, Mandaluyong City.
This solar project in Cadiz represents part of Basic Energy’s investment in renewable energy infrastructure in the Philippines, specifically in the province of Negros Occidental.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
