A Philippines offshore wind site between northwest Mindoro and Lubang Island will see its first 1GW project, developed by subsidiaries of Shell plc and domestic developer Alternergy Holdings Corp.
Pililla AVPC Corporation will have a 60% stake in the joint venture, while Shell Overseas Investment BV will hold 40%.
The formal agreement includes feasibility studies and potentially a final investment decision.
The partners have a wind energy service contract from the country’s energy ministry which allows them to gauge the commercial viability of the proposal.
The area can house up to 5GW of offshore wind, according to Shell and Altenergy.
.jpg)
