Shell electricity retailer taps petrosolar for supply
PetroSolar Corp. (PSC), which is part of the Yuchengco Group, has entered into a supply deal with Shell Energy Philippines Inc. (SEPH) for the latter’s electricity requirements.
SEPH is the retail electricity arm of oil giant Shell. It sells electricity to more than 100 commercial and industrial customers.
Also, SEPH is a member of the Wholesale Electricity Spot Market, the marketplace for trading electricity as a commodity.
On the other hand, PSC is a unit of PetroGreen Energy Corp. (PGEC), PetroEnergy Resources Corp.’s renewable energy holding company. It has investments in various renewable projects in the country.
In a joint statement on Friday, parent firm PetroEnergy said the power supply agreement covers the full capacity of PSC’s 20-megawatt Tarlac-2 solar power plant.
“This partnership also ensures a stable and competitive rate for PSC, especially valuable in the market where solar offtake prices are under increasing pressure,” said Francisco Delfin Jr., president and CEO of PGEC.
“By securing clean and reliable solar energy from the Tarlac-2 Solar Power Plant, we are not only delivering on our promise to provide sustainable energy solutions to our customers but also contributing to the country’s renewable energy goals,” said Bernd Krukenberg, president of SEPH.
Both parties said they are exploring future collaborations to boost the country’s energy supply and advance the energy transition to sustainable resources.
PGEC said it is on track to complete two new utility-scale solar power facilities by the latter part of this year. These are the 40-MW Limbauan solar project in Isabela and the 25-MW Bugallon solar park in Pangasinan.
Meanwhile, its unit EcoSolar Energy Corp. recently secured a confirmation of authority from the Department of Energy for a solar project in Panitan town in Capiz. This has a capacity of 90 to 100 MW and is slated for completion in 2027.
This DOE certification signifies that a particular RE project has sufficiently complied with all the requirements. This allows the proponent to proceed with the permit processing and conduct survey and other feasibility activities.
