PetroGreen, Shell Ink Deal for 20-MWp Solar Project

• PetroSolar and Shell Energy Philippines unite for a 20MWp solar project, boosting renewable energy and supporting the Philippines' sustainable future.

PetroSolar Corporation, part of PetroGreen Energy Corporation, has finalized a power purchase agreement with Shell Energy Philippines for a 20-megawatt peak (MWp) solar project. This agreement marks a significant step in PetroSolar's renewable energy initiatives, enhancing its portfolio and contributing to the Philippines' sustainable energy goals.

The solar park, which will supply clean energy to Shell Energy Philippines, underscores the growing collaboration between local and international energy companies in the region. This partnership aligns with global trends towards renewable energy adoption and supports the Philippines' efforts to increase its renewable energy capacity.

How does PetroSolar's agreement with Shell Energy impact the Philippines' renewable energy goals?

• Enhances the Philippines' renewable energy capacity, contributing to the national target of increasing the share of renewables in the energy mix.
• Supports the government's goal to reduce carbon emissions and transition to cleaner energy sources.
• Encourages further investment in renewable energy projects by demonstrating successful collaboration between local and international companies.
• Provides a model for future public-private partnerships in the renewable energy sector.
• Helps stabilize energy prices by reducing reliance on imported fossil fuels.
• Promotes energy security and independence by diversifying the country's energy sources.
• Contributes to local economic development through job creation in the renewable energy sector.
• Aligns with global climate commitments, such as the Paris Agreement, by reducing the carbon footprint.