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Manila Bulletin devider Business devider Trade & Industry devider PetroSolar, Shell Energy ink RE deal

PetroSolar, Shell Energy ink RE deal

Published Jun 13, 2025 10:01 am

Yuchengco-led PetroSolar Corp. (PSC) has entered into a deal to deliver clean power supply to Shell Energy Philippines Inc. (SEPH).

In a disclosure to the Philippine Stock Exchange (PSE) on Friday, June 13, PSC, a subsidiary of PetroGreen Energy Corp. (PGEC) said it has signed a power supply agreement, covering the full output of the 20 megawatt-peak (MWp) Tarlac 2 solar power plant, to deliver sustainable power to SEPH.

F.G. Delfin Jr., PGEC’s president and chief executive officer (CEO), believes that this collaboration is a shared commitment to help advance the country’s energy transition.

“By securing the supply of clean power from our 20-MWp Tarlac 2 solar unit, we support SEPH’s mission to deliver sustainable power to its customers,” he said.

“This partnership also ensures a stable and competitive rate for PSC, especially valuable in the market where solar off-take prices are under increasing pressure,” Delfin added.

Bernd Krukenberg, president of SEPH, also welcomed the partnership, stating that, “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 (RE) 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,” he added.

Shell Energy acts as a retail electricity supplier to Shell companies in the country. It offers competitive and environment-friendly energy solutions to industrial and commercial consumers and is a member of the Wholesale Electricity Spot Market (WESM).

Meanwhile, PGEC assured that it is on track to wrap up two of its utility-scale solar power facilities before the end of 2025. These are the 40-MWp Limbauan solar project in Isabela and 25-MWp Bugallon solar facility located in Pangasinan.

PGEC’s subsidiary, EcoSolar Energy Corp., obtained a confirmation of authority (CoA) from the Department of Energy (DOE) for a 90- to 100-MWp solar project in Panit-an, Capiz. This project is expected to be completed by 2027.

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PetroGreen Energy Corp. (PGEC)
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