FILE PHOTO: Stock image of solar plant.
Listed renewable energy firm Raslag Corp. said Thursday its Pampanga solar plant is now operational and has begun injecting power into the Luzon grid.
In a statement, the company said the project dubbed RASLAG-4 has a capacity of 36.646 megawatt peak (MWp), which is its biggest facility yet. It is also set to produce 53 gigawatt hours (GWh) of electricity, which can power around 24,000 homes per year.
The group also expects a boost from activating RASLAG-4, with a full-year operation translating to an additional P285 million in its topline.
“We are thrilled to have already completed four organic projects to help meet our nation’s growing energy demand,” said Raslag chief executive officer and president Robert Nepomuceno.
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With the firing up of this new clean energy development, the firm’s total installed capacity is now at 77.844 megawatts (MW), just two years after going public.
Its other operational solar farms include the 18.01-MW RASLAG-3 plant, the 10.046-MW RASLAG-1, and the 13.141-MW RASLAG-2 plant, with all of them located in Pampanga.
The company said construction works are ongoing for three more projects, noting it was ready to expand outside Pampanga with its next solar plant seen to erect in Sta. Rosa, Nueva Ecija by 2026.
Earlier this year, the company bared the plan to acquire land parcels in Sta. Rosa, Nueva Ecija for around P807.73 million. The sites were eyed to house its RASLAG-7 and RASLAG-8 projects.
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This expansion seeks to support the firm’s ambitious target to grow its portfolio of renewable energy capacity to at least 1,000 MW by 2035.
The renewable energy producer sought to raise in April 2023 a P1.45-billion loan to finance its two solar power projects in Pampanga and Tarlac provinces.
Chaired by industry veteran Peter Nepomuceno, it debuted in the Philippine Stock Exchange on June 6, 2022, and raised P700 million in its initial public offering.