Emerging Power, the renewable energy subsidiary of Nickel Asia Corp (NAC), has signed a joint venture (JV) agreement with Netherlands-based Shell Overseas Investments (Shel) to develop, own, operate and maintain onshore clean energy in the Philippines project.
The projects will be developed under the Philippine Energy Plan established by the country's Department of Energy to secure the future of renewable energy in the Philippines. The joint venture will initially roll out a series of clean-up projects in Luzon and Visana, two of the Philippines' three island groups, adding 3 gigawatts of renewable energy capacity in the country.
The joint venture also plans to deploy 1 GW of projects in the region by 2028, Emerging Power said.
The joint venture will assess opportunities for onshore wind and energy storage systems, with a focus on utility-scale solar PV projects. According to data analysis, 1 GW of solar photovoltaic power can meet the annual daytime consumption of more than 1.2 million households in the country.
