Shell and Nickel Asia joint venture secures financing for 240 MWp solar project in the Philippines

Shell Philippines Exploration B.V. and Nickel Asia Corporation formed a joint venture to develop a 240 MWp solar project in the Philippines, securing financing for construction. The project, located in the Philippines, represents one of the largest solar initiatives in the country's renewable energy push. Shell and Nickel Asia will jointly own and operate the facility, leveraging their respective expertise in energy and mining to ensure project execution. The financing structure includes debt and equity contributions from both partners, with Shell leading the capital deployment. This deal underscores the growing collaboration between energy majors and mining firms to accelerate solar adoption in Southeast Asia. No specific financial terms or timeline for completion were disclosed in the announcement.

Counterparts (4)

Investor

Shell

company · 2 deals

Shell is a global group of energy and petrochemical companies. Their strategy is to accelerate the transition of their business to net-zero emissions, purposefully and profitably.

Partner

Nickel Asia

company

Philippines-based natural resources development company, primarily producing lateritic nickel ore, with a growing interest in renewable energy development through its subsidiary Emerging Power Inc. The company has 172 MW of current solar capacity and aims for 1 GW of installed renewable capacity by 2028, focusing on solar, geothermal, and wind energy in the Philippines.

parent_company

Nickel Asia

company

Philippines-based natural resources development company, primarily producing lateritic nickel ore, with a growing interest in renewable energy development through its subsidiary Emerging Power Inc. The company has 172 MW of current solar capacity and aims for 1 GW of installed renewable capacity by 2028, focusing on solar, geothermal, and wind energy in the Philippines.

S

Shell Philippines Exploration B.V

company