PetroSolar Corp. (PSC), a subsidiary of PetroGreen Energy Corp. (PEGC), said Friday it signed a three-year power supply agreement (PSA) with Shell Energy Philippines Inc.
Under the PSA signed on Sept. 20, 2023, PSC will supply SEPH with clean power from its operational 20-megawatt Tarlac-2 Solar Power Plant at Central Technopark in Tarlac City.
“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,” PGEC president and chief executive Francisco Delfin Jr. said.
PGEC, the renewable energy holding firm of publicly-listed PetroEnergy Resources Corp., is expanding its solar power portfolio with new projects in Northern Luzon, Central Luzon and Central Visayas which will see commercial operations by 2024 to 2025.
PGEC is 25-percent owned by Japanese firm Kyuden International Corp., the overseas investment outfit of Kyushu Electric Power Co. Inc. and 75 percent by PERC.
“We are excited to strengthen our partnership with PetroSolar Corp., a company that is well established and dedicated to its renewable energy vision. This collaboration demonstrates Shell’s commitment to providing sustainable energy solutions to its customers in the Philippines,” said SEPH President Bernd Krukenberg.
SEPH is a retail electricity supplier under the Shell companies in the Philippines offering competitive and environment-friendly energy solutions to industrial customers.