Shell enters Philippine renewable energy market
Jul 06, 2022
Shell Overseas Investments B.V. (Shell) established a joint venture (JV) with Emerging Power Inc. (EPI) to support the Department of Energy’s (DOE) latest Philippine Energy Plan. The JV’s goal, which aims to contribute 1 Gigawatt (GW) to the country’s power systems by 2028 by using alternative sources of energy, aligns with the DOE’s plan to increase to 35% the share of renewables in the country’s power mix seven years from now.
The JV’s utility-scaled, grid-connected projects, which will first roll out in Luzon and Visayas, will concentrate on solar PV, generating at least 1 GW that can meet the power consumption of 1.2 million Filipino homes every year. Explorations in onshore wind and energy storage systems will then follow.
At the same time, retail electricity supplier Shell Energy Philippines, Inc. (SEPH) will be the primary marketer and seller of the electricity generated by this partnership.
“Working with partners and developing new collaborations is key to accelerating the energy transition. This Shell-EPI partnership will leverage on Shell’s technical expertise and integrated solutions as a global energy company and EPI’s strong presence in the Philippines,” said Lorelie Quiambao-Osial, Country Chair of the Shell Companies in the Philippines. “Together, we can power progress for the Philippines through sustainable energy for industries and homes.”
Shell’s partnership with EPI is its latest endeavor in contributing to the global effort to be a net-zero emissions company by 2050 through its powering progress strategy. Shell holds a 40% share of the self-operating JV.
Among its global strategies for the next few years to fulfill the objective is supplying sufficient renewable energy for the planet in over 50 million homes; the operation of more than 2.5 million charging points for electric vehicles (EV); and the production of eight times more low-carbon fuels.
“The transition from fossil fuels to renewable sources of energy will meet the ever-increasing demand of power from the Philippines’ growing population,” Quiambao-Osial stressed. “Shell’s investments are and will be in technologies that will support the government-led energy transition agenda that will ensure continuing, sustainable power to the Filipino people”.
(L-R): Sriram Madapura, Shell Head of Renewable Power Development, Asia-Pacific; Jasmine Choo, Shell Vice-President for Onshore Power, Asia; Thomas Brostrom, Shell Executive Vice-President, Renewable Generation; Martin Antonio Zamora, EPI Chairperson; Lorelie Quiambao Osial, Country Chair, Shell companies in the Philippines; and Ronaldo Ibasco, EPI President and Chief Executive Officer
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