Basic Energy Corp. (BEC), which owns a stake in Philippine downstream oil player Filoil Energy Company, Inc., announced that it will install solar panels at 30 service stations as part of its Green Energy E-Transport Project.

The purchase of a 60% stake in Filoil Energy in December 2021 for PHP3 billion (USD57.8 million) made Basic Energy a participant in the Philippine downstream oil sector.

The project, which includes operating 60 electric buses initially, has been allocated an investment of PHP40 million (USD770,991). The company also announced it is tying up with TotalEnergies for this solar energy project.

The medium-term vision, according to Luisito Poblete, chief operating officer of Basic Energy Corp. is to solarize 1,500 service stations and operate 3,000 electric buses.

“Several oil companies have already expressed interest in the project and have agreed to proceed with further discussions on the terms and conditions of the joint venture, determine prospective sites, proceed with pilot installations and commence feasibility studies and data gathering,” according to Basic Energy.

The Philippines’ proposed National Renewable Energy Program (NREP) 2020-2040 has established a target of 35% share of renewable energy (RE) in the power generation mix by 2030 and 50% share by 2040. The NREP sets the roadmap for achieving the Philippines’ renewable energy goals as required by the Renewable Energy Act of 2008.

Republic Act No. 9513, or the Renewable Energy Act, provides the framework for the development, utilization, and commercialization of renewable energy sources, defined as resources that can be replenished regularly and are available indefinitely. These include biomass, solar, wind, geothermal, ocean energy, hydropower, and other emerging renewable energy technologies.