Shell Pilipinas Corp. said Wednesday it received an approval from its shareholders to directly engage in the electric vehicle charging station business and sell various services related to electric charging.
“This aligns with the company’s approach towards energy transition in step with society, evolving beyond petroleum, towards sustainable and cleaner energy solutions for the company, people, community and environment today and for the future,” Shell said in a disclosure to the Philippine Stock Exchange.
It said shareholders also approved the amendment to the company’s articles of incorporation to allow Shell to also sell technical services related to the company’s lubricants business to generate more revenues.
The amendments will be submitted to the Securities and Exchange Commission for approval.
Shell Pilipinas, Shell Energy Philippines and the Department of Energy signed a tripartite memorandum of agreement in January to conduct a pilot study on EV charging stations powered by renewable energy such as solar.
Data generated from the pilot project will serve as a benchmark for Shell and SEPH to develop and roll out the EVC network in its existing and future Shell-branded mobility sites.
The pilot project’s key components include supply, installation, operation and maintenance of EVCs, monitoring and verification of energy efficiency, performance and savings through the utilization of RE and optimization of the use of cleaner energy.
The pilot project outputs will be used as a reference for the DOE to develop programs, policies and regulations for the sustainable and safe adoption and operation of EVCs involving the use of RE.