Yuchengco firm to supply Shell Energy’s power needs

Date Published: October 12, 2023

Source: https://business.inquirer.net/

MANILA -A unit of Yuchengco-led PetroGreen Energy Corp. will supply Shell Energy Philippines Inc. (SEPH) with renewable energy coming from its solar power plant in Tarlac City.

Under the power supply agreement signed last Sept. 20, PetroSolar Corp., a subsidiary of PetroGreen, will source clean energy from its 20-megawatt (MW) Tarlac-2 solar plant located in Central Technopark for SEPH’s power needs.

“We are pleased with this agreement with Shell Energy, which builds upon mutual commitment to clean energy from an earlier power supply contract signed in 2022 between our two companies,” Francisco Delfin Jr., PetroGreen president and chief executive, said in a statement on Friday.

The two companies did not disclose other details of the supply deal, stressing only that both were committed to clean energy expansion as part of the national government’s goal to increase the share of renewables in the energy mix.

PetroGreen is the renewable energy holding firm of listed PetroEnergy Resources Corp. According to the company, it is expanding its solar power portfolio through new projects set to begin commercial operations by 2024 and 2025 in Northern Luzon, Central Luzon and Central Visayas.

PetroGreen also has stake in other renewable energy facilities, including the 32-MW Maibarara geothermal power project in Batangas province and the 50-MW Nabas wind project in Aklan province. SEPH, meanwhile, is the retail electricity supply arm of oil firm Shell Pilipinas Corp.