BASIC Energy Corp. on Thursday said that the Department of Energy (DOE) had endorsed the conduct of a system impact study for two battery energy storage system (BESS) projects in Cadiz and San Carlos, Negros Occidental.
The endorsement will allow National Grid Corp. of the Philippines to determine whether the facilities can be safely and effectively connected to the power grid.
“Both BESS projects are designed to provide frequency and voltage regulation, which will help support grid stability and the integration of more renewable energy into the national grid,” the company said.
Basic also announced that a wholly-owned subsidiary, Basic Renewable Energy Solutions Corp., had received a retail electricity supplier (RES) license from the Energy Regulatory Commission, valid for five years and renewable at the end of each term.
The company said the grant of the RES license was an important step in its plan to develop the retail electricity supply business.
It added that an operational plan was now being prepared for its subsidiary to operate as a retail electricity supplier, with further progress to be disclosed as and when necessary.
Basic Energy shares on Thursday slipped P0.001, or 0.9 percent, to close at P0.11 per share.
