Shell Overseas Investments and renewable energy company Emerging Power Inc. (EPI) have agreed to jointly develop, own, operate and maintain 1GW of utility-scale solar PV in the Philippines by 2028.
The partnership also has ambitions to develop up to 3GW by initially rolling out a series of projects in the island of Luzon and the Visayas archipelago.
EPI is the renewable energy subsidiary of mining company Nickel Asia Corp (NAC).
“The joint venture has the full support of EPI’s parent company, NAC,” said NAC president and CEO Martin Zamora. “This partnership would allow both companies to boost the supply of renewable energy in the Philippines.”
The partnership will leverage Shell’s technical expertise and solutions, while exploiting EPI’s strong presence in the Philippines, according to Lorelie Osial, country chair of the Shell Companies in the Philippines.
The oil and gas major has made a number of moves in the renewable energy space recently, including the acquisition of the Indian Sprng Energy renewables platform for US$1.55 billion, while in January it acquired 100% of PV project developer Solar-Konzept Italia, increasing its solar development pipeline in Italy to 2GW.
The Philippines, meanwhile, has recently conducted its maiden renewables auction. At the end of June, it contracted nearly 1.5GW of solar PV through the country’s Green Auction Program, which were enlisted to deliver power from 2023 until 2025.
The week before this, Solar Philippines revealed plans to develop up to 10GW of solar PV in the country with projects set to come online between 2025 and 2026.