HEAT oven to 350 degrees F.
COMBINE shortening, peanut butter, brown sugar and granulated sugar in bowl of electric mixer; beat at medium speed until well blended. Gradually add eggs and vanilla, beating well.
COMBINE flour, cocoa, baking powder and baking soda in medium bowl. Add to shortening mixture, beating at low speed until blended. Stir in chocolate chips. Drop by rounded tablespoonfuls 2 inches apart onto ungreased baking sheets.
BAKE 10 to 12 minutes, or until edges are lightly browned. Cool 2 minutes on baking sheets. Place on cooling racks to cool completely.