Raslag aims to complete solar projects in 5 years
BY LENIE LECTURA – FEBRUARY 14, 2022
from Business Mirror
Nepomuceno-led Raslag Corp. intends to complete three solar power projects in the next five years to reach its goal of expanding its portfolio to 250megawatts (MW) by 2032.
“In view of the growing demand for renewable energy (RE) on the back of domestic economic expansion and a global trend towards sustainability, Raslag has lined up three solar projects that it targets to complete within 5 years which would boost its generation capacity by nearly 6-fold,” it said Monday.
The company is nearing the completion of its 18.011 MWp RASLAG-3 solar power plant, which is set for commercial operations by May 2022. RASLAG-3 will nearly double the company’s generation capacity this year.
Raslag also commenced work for the development of the 35.2 MWp RASLAG-4 solar power plant and has acquired the site for the 60 MWp RASLAG-5 solar power plant.
Within the next 10 years, the company plans to further develop its project pipeline with the aim of scaling up its generation capacity by more than tenfold to 250 MWp, it added.
The renewable energy firm currently owns and operates the 10.046 MWp RASLAG-1 solar power plant and 13.141 MWp RASLAG-2 solar power plant that are both in Mexico, Pampanga. These plants are running under the Philippines’s Feed-in Tariff (FiT) scheme.
RASLAG-1 was the second solar plant to be included in the first round of FIT for solar with a P9.68/kWh base tariff, while RASLAG-2 was the first solar plant in the second round of FIT for solar with a P8.69/kWh base tariff. Both plants enjoy 20 years of guaranteed payment from the government with annual escalation in consideration of local inflation and foreign exchange. The plants also benefit from various privileges under the Renewable Energy Act, such as tax incentives and preferential dispatch of energy.
The Nepomuceno family became a pioneer in the renewables space when they founded Raslag in 2013, one of the first solar energy developers in the Philippines.
The company is the brainchild of Engr. Peter G. Nepomuceno, the patriarch of the Nepomuceno Group of Companies of Angeles City, and Engr. Conrado D. Pecjo, a seasoned energy industry executive.
