PetroSolar Corporation (PSC), a subsidiary of Yuchengco-led PetroGreen Energy Corporation (PGEC), has signed a power supply agreement with Shell Energy Philippines, Inc. (SEPH) for the full output of its 20MWp Tarlac-2 Solar Power Plant.

The deal was signed on June 10,  marking a strategic collaboration between the two companies in support of renewable energy development in the Philippines.

“We are proud to sign this agreement with SEPH, a dynamic and fast-growing player in the retail electricity market. By securing the supply of clean power from our 20MWp Tarlac-2 solar unit, we support SEPH’s mission to deliver sustainable power to its customers. This partnership also ensures a stable and competitive rate for PetroSolar, especially valuable in the market where solar offtake prices are under increasing pressure,” said F.G. Delfin, Jr., PetroGreen President & CEO.

“This partnership with PetroSolar represents a shared commitment to advancing the energy transition in the Philippines. 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. This collaboration underscores our dedication to powering progress and building a cleaner energy future for generations to come. We look forward to growing the partnership with PGEC,” said Bernd Krukenberg, SEPH President.

PGEC, the renewable energy holding company of publicly-listed PetroEnergy Resources Corporation, is currently developing two utility-scale solar power facilities targeted for completion by late 2025: the 40MWp Limbauan solar project in Isabela and the 25MWp Bugallon solar facility in Pangasinan. Its subsidiary, EcoSolar Energy Corporation, recently secured a Confirmation of Authority from the Department of Energy for a 90-100MWp solar project in Panit-an, Capiz, scheduled for completion in 2027.

Shell Energy Philippines is a retail electricity supplier under the Shell companies in the Philippines, providing “competitive and environment-friendly energy solutions to industrial and commercial customers.”

Both companies emphasized their commitment to “exploring future collaborations aimed at strengthening the country’s energy supply and advancing the transition toward a more sustainable future.”

What do you think? Will this kind of full offtake partnership model accelerate utility-scale solar deployment in the Philippines?

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