Shell to jump on RE bandwagon

By Lenie Lectura – October 15, 2017

from Business Mirror

SHELL Philippines has informed the National Renewable Energy Board (NREB) that it is joining the renewable-energy (RE) bandwagon soon.

“Shell will enter the RE sector,” announced NREB Chairman Jose M. Layug Jr. in a recent RE event organized by the Dutch Embassy. “They will start vey soon. It’s high time they do it. We welcome this,” Layug added in an interview when asked to elaborate on Shell’s plans.

No particular RE power source was committed to the NREB, Layug said, adding that Shell is “open to any RE” and that “they will start looking for potential RE source”.

RE includes solar, hydro and wind, among others.

Shell has announced in December last year that it was exploring various business models in preparation for its new investment in RE, following its parent firm’s announcement that it has established a separate division, New Energies, as a conduit to invest in renewable and low-carbon power.

Pilipinas Shell President Cesar G. Romero had said that, as a starting point, solar is on top of the company’s mind. Back then, Shell did not provide a timetable for its RE plan.

“RE has been declared globally a priority,” Romero had said. “Solar power is a starting point for us.”

There are no concrete plans yet as to how the company will proceed with this, although the Shell official said it is now looking at viable commercial arrangements involving solar power. “We are open-minded to partner. Various business models are being explored, but nothing is on the table yet,” he said.