PetroSolar Corp. (PSC), a subsidiary of Yuchengco-led PetroGreen Energy Corp. (PGEC), and Shell Energy Philippines, Inc. (SEPH) signed a strategic power supply agreement Thursday, a significant step in their renewable energy collaboration.
The agreement covers the full output of PSC’s 20-megawatt-peak Tarlac-2 Solar Power Plant, ensuring clean energy delivery to SEPH’s customers.
“We are proud to sign this agreement with SEPH, a dynamic and fast-growing player in the retail electricity market,” said Francisco Delfin Jr., PGEC president and chief executive. “By securing the supply of clean power from our 20MWp Tarlac-2 solar unit, we support SEPH’s mission to deliver sustainable power to its customers. This partnership also ensures a stable and competitive rate for PSC, especially valuable in the market where solar offtake prices are under increasing pressure.”
Bernd Krukenberg, SEPH president, said the partnership with PSC represents a shared commitment to advancing the energy transition in the Philippines.
SEPH, a retail electricity supplier under the Shell companies in the Philippines, offers competitive and environmentally friendly energy solutions to industrial and commercial customers.
“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 goals,” Krukenberg said.
He added that the collaboration underscores both parties’ dedication to powering progress and building a cleaner energy future for generations to come. “We look forward to growing the partnership with PGEC,” he said.
PGEC, the renewable energy holding company of publicly traded PetroEnergy Resources Corp., is also on track to complete two new utility-scale solar power facilities by late 2025: the 40MWp Limbauan solar project in Isabela and the 25MWp Bugallon solar facility in Pangasinan.
PGEC’s subsidiary EcoSolar Energy Corp. also recently secured a Confirmation of Authority from the Department of Energy for a 90MWpeak to 100MWpeak solar project in Panit-an, Capiz, which is slated for completion in 2027.
