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The renewable energy subsidiary of Nickel Asia Corp (NAC), Emerging Power, signed a joint venture (JV) agreement with Netherlands-based Shell Overseas Investments (Shell) to develop, own, operate, and maintain onshore clean energy projects in the Philippines.
The projects would be developed under the Philippine Energy Plan strategized by the country’s Department of Energy to secure the future of renewables in the Philippines.
The JV will initially roll out a series of clean projects in Luzon and Visayas, two of the three island groups in the Philippines, to add up to 3 GW to the country’s renewable capacity.
Emerging Power said the JV also targets deploying 1 GW of projects in the region by 2028.
NAC President and CEO Martin Antonio G. Zamora said, “The joint venture has the full support of EPI’s parent company, NAC. This partnership would allow both companies to boost the supply of renewable energy in the Philippines and is in line with our vision to become the premier ESG investment in the country.”
The JV would evaluate opportunities in onshore wind and energy storage systems focusing on utility-scale solar photovoltaic projects. Based on industry data, a gigawatt of solar PV can supply the annual daytime consumption of over 1.2 million homes in the country.
Country Chair of the Shell Companies in the Philippines Lorelie Q. Osial observed, “Working with partners and developing new collaborations is key to accelerating the energy transition. This Shell-EPI partnership will leverage Shell’s technical expertise and integrated solutions as a global energy company and EPI’s strong presence in the Philippines. Together, we can power progress for the Philippines through sustainable energy for industries and homes.”
Earlier this month, the Philippines Department of Energy awarded 19 contracts to develop 1.57 GW clean projects under the first round of the 2 GW Green Energy Auction Program, which was held in all three island groups of the country for solar, wind, hydro, and biomass projects.
In January, a Philippines-based power distribution company Manila Electricity Company invited bids to develop 850 MW renewable energy projects. The tender aims to deploy 600 MW of clean energy capacity until February 26, 2026, while the remaining capacity of 250 MW is scheduled for completion by February 26, 2027.