As reported from the Philippines, Basic Energy Corp. said it has entered into a subscription agreement with Thailand-based Vintage Engineering Public Co. Ltd. (VTE), a publicly-listed company in Thailand, “for a strategic partnership to pursue the exploration, development and production of renewable energy resources, in the Philippines and abroad.”

The companies signed an initial MOU in October 2016 on a strategic partnership. Under the deal, VTE has a right to invest in the Mabini geothermal power and other projects. Both companies are interested in the projects of each other.

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