, Philippines

Philippines-based Basic Energy to sell 9% stake to Thai firm

The sale will be used to explore renewable energy projects.

In a disclosure, Basic Energy said that it has entered into a subscription deal with Thai company Vintage Engineering Public to pursue "exploration, development and production of renewable energy resources, in the Philippines and abroad."

VTE will buy 435.7m shares out of the unissued capital stock of Basic Energy.

Under the same deal, it has been agreed that VTE has the right to invest in the 20MW Mabini geothermal project, among other projects.
 

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!