The Market Monitor Minding the Nation's Business
Shell Energy Philippines, Inc. (SEPH) recently signed a Power Supply Agreement (PSA) with Greenlight Renewables Holdings, Inc. (Greenlight) through Greenlight’s wholly-owned subsidiary San Isidro Solar Power Corp., for the purchase of electricity produced from a ground-mounted solar farm located in Leyte.
The agreement marks a significant milestone for the joint venture between Emerging Power Inc. (EPI) and Shell Overseas Investments B.V. (SOIBV) – the first PSA signed since its establishment.
Under the 15-year agreement, SEPH will purchase 120 megawatts peak (MWp) of electricity from Phase 1 of the San Isidro Solar Power Project.
Commercial operations for Phase 1 will begin in the second quarter of 2026. The project will significantly contribute to the renewable energy capacity in the Visayas and push the Philippines’ decarbonization efforts.
SEPH President Bernd Krukenberg said: “Our strong partnership with Greenlight, along with our decision to fully offtake from this project, reflects Shell’s commitment to providing cleaner and more affordable energy solutions to the country and supports our growth aspirations in the power industry for years to come.”
Greenlight President and CEO Jasmin Agbon said: “We are proud to see the San Isidro Solar Power Project move from vision to reality through this collaboration with SEPH and other partners. Our teams are working tirelessly to deliver this project, which will contribute to energy security and support the Philippines’ clean energy and sustainability goals.”
Greenlight is a joint venture between EPI and SOIBV focused on developing, owning and operating large-scale renewable energy projects in the Philippines. It completed the 120 MWp Phase 1 of the San Isidro Solar Power Project, which is now undergoing testing and commissioning and is already supplying energy to the grid. EPI serves as the clean energy arm of Nickel Asia Corporation.
SEPH is the registered retail electricity supplier of the Shell companies in the Philippines.