Shell tapping Filipino partner for RE investments

The Philippine subsidiary of AngloDutch multinational giant Shell will be tapping a Filipino partner for its planned ventures in the renewable energy (RE) sector.

Shell Philippines Chief Executive Cesar G. Romero explained that they would need a local partner to satisfy the RE Act’s mandate on a Filipino firm holding 60-percent equity on the corporate entity carrying out these propounded RE investments.

“As a process, it’s a bit challenging because instead of you doing it on your own, you have to work with a partner and then set up JV (joint venture) arrangement,” he said.

Romero further indicated “we are in the process of discussion (with the prospective partner) … but the name is a ‘secret’ for now.”

What the Shell chief executive just tipped off was “we have to deal with the reputable members of the community.”

As initially planned, the installations would likely be ‘hybrids’ – leaning on technologies like solar combined with the more conventional type of technol- ogy used in power generation.

“We are looking at ‘hybrids’ -- mainly renewables and some other components, but not just solar installations. The intention is to have a very good and differentiated offer,” Romero stressed.

Shell’s parent firm in the Netherlands previously set out plans for US$1.0billion annual investment target for RE through the end of the decade. (MMV)