Nickel Asia Corp (NAC) subsidiary Emerging Power (EPI) has signed a joint venture agreement with Shell business unit Shell Overseas Investments to develop renewable energy projects in the Philippines. With a main focus on utility-scale solar photovoltaic projects, the partners will build, own, operate, and maintain onshore renewable projects throughout the nation. As per the company statement, 1 GW of solar PV could provide the Philippines’ annual daytime power needs for almost 1.2 million houses.
Additionally, the two companies will look into prospects in onshore wind and energy storage systems. By 2028, the partnership aims to have 1 GW of projects completed, with the overall aim of expanding the Philippines renewable capacity to 3 GW. The partnership between Shell and EPI will first concentrate on developing projects in the country’s Luzon and Visayas regions.
In May 2022, Shell and Eneco agreed to work jointly on the offshore wind tender process for the Hollandse Kust (west) (HKW) VI and VII lots, which are located off the coast of the Netherlands. The two companies would submit their bids through their two joint venture firms, Ecowende and SchakelWind. Ecowende would bid for HKW VI, while SchakelWind would submit an offer for HKW VII.
REGlobal’s Views: The Philippines’ National Renewable Energy Program spanning from 2011 to 2030, targets to bring the share of renewable energy to 35 per cent by the end of that period. Thus, there are many opportunities for EPI and Shell to expand in this market.
