Shell has signed an agreement with Filipino company Emerging Power to jointly develop, own, operate and maintain 1 GW of onshore renewable energy projects in the Philippines.
The venture will focus mostly on solar PV, all the while evaluating opportunities and possibilities in onshore wind and energy storage systems. Once reached, the 1 GW capacity will be able to power 1.2 million Philippine homes.
The venture’s target is to reach 1 GW by 2028, and it further ambitions to contribute to up to 3 GW of renewable capacity in the country by implementing a series of projects in Luzon (northern Philippines) and the Visayas (central Philippines).
The Philippines has recently been ramping up its development of renewable energy projects. In June 2022, the country allocated 2 GW of renewables in its first auction, including 1.5 GW of solar.