PetroSolar Corp., a unit of PetroGreen Energy Corp., has signed a power supply agreement with Shell Energy Philippines Inc. (SEPH) to deliver the entire output of its 20-megawatt peak (MWp) Tarlac-2 Solar Power Plant.
The agreement marks a key milestone in the companies’ renewable energy collaboration and is intended to support SEPH’s clean energy supply portfolio for commercial and industrial clients.
The deal ensures PetroSolar a stable offtake arrangement amid a tightening market for solar power prices.
PetroGreen, the renewable energy arm of listed PetroEnergy Resources Corp., is accelerating the expansion of its solar portfolio.
It is targeting the completion of two new utility-scale facilities by the end of 2025: the 40MWp Limbauan project in Isabela and the 25MWp Bugallon project in Pangasinan.
In a separate development, its subsidiary EcoSolar Energy Corp. secured government approval to proceed with a 90-100MWp solar farm in Capiz, scheduled for commissioning in 2027.
Shell Energy Philippines, part of the wider Shell group, supplies electricity to industrial and commercial users across the country, offering cleaner energy options.
The company said the agreement with PetroSolar reinforces its strategy to support the Philippines’ shift toward low-carbon energy.
Both firms are exploring additional renewable energy partnerships as they look to contribute to the country’s long-term energy security and sustainability targets.
Business News Asia