Royal Dutch Shell’s local unit is on the hunt for renewable energy opportunities in the country as it looks beyond fossil fuels, a top official said.
Pilipinas Shell chairman Cesar Romero on Wednesday said the company is in the scouting phase for various RE investments following its parent firm’s move to cleaner energy sources.
“This is very much still in the early phase. It’s one of the priorities in the Royal Dutch Shell Group,” Romero said.
“We’re scouting for RE, in general. We’re prepared to use a number of platforms depending on what may be commercially viable opportunity,” Romero added. “[It can be a] combination with gas, or even diesel gen set, depends on what is suitable.”
In May, Royal Dutch Shell announced the establishment of New Energies – a division that will invest in RE for a future beyond fossil fuel amid technological changes and climate change policies.
“We want to be an energy solution provider, of which oil and gas and renewables are all part of that integrated [group]. Rather than just being an oil and gas company, we want to be an energy solutions provider,” Romero said.
A separate company for renewables is also eyed in the country, he added.
“We’re considering that, either a holding company or if it can be housed somewhere.”
Romero added that the company is “open-minded to partnering” in getting RE projects off ground – and that Shell will remain an oil and gas company.
“We believe we need to make a contribution towards a more sustainable future… and part of that is our thrust towards going a more lower carbon footprint. Don’t get me wrong, oil will continue to play an important role…and as in particular, we are pushing gas extensively, as probably many of you know, we are the biggest player in gas,” the official said.
“Related to that is this New Energies group that we have just formed globally to start looking for opportunities in the RE space,” Romero added.