Local renewable energy company RASLAG Corp. is developing two more solar plants with a combined capacity of 95.2 megawatts in Pampanga at a cost of P3.6 billion.
RASLAG said in a statement Thursday it was positioning itself to increase generation capacity in the next few years. The company’s third solar plant, the 18.011-MW RASLAG-3 in Mabalacat and Magalang, is scheduled for commercial operations by May.
The company also commenced work for the development of the 35.2-MW peak RASLAG-4 solar plant costing P1.5 billion and acquired the site for the 60-MWp RASLAG-5 solar plant costing P2.1 billion.
“These solar power plants are strategically located to harness the potential of Central Luzon for large, utility-scale solar projects. The region is an ideal site for solar energy development considering its vast and flat terrains, stable transmission backbone, economic growth, and high demand for energy,” the company said.
RASLAG is one of the pioneers in the country’s grid-scale solar energy development led by Peter Nepomuceno, the patriarch of the Nepomuceno Group of Companies of Angeles City and the man who built Angeles Electric Corp. into one of the largest power distributors in Luzon.
Nepomuceno and his team are now working on transforming RASLAG into a leading player in the RE industry by providing reliable yet cost-effective renewable energy to customers through high-quality solar power projects.
RASLAG’s first two projects in in Mexico, Pampanga achieved the most coveted solar feed-in tariff rates in 2015 and 2016.
The 10.046-MW RASLAG-1 was the second solar plant to be granted the first round solar FIT rate of P9.68 per kWh, while the 13.141 MW RASLAG-2 was awarded the second round solar FIT rate of P8.69 per kWh.
These incentives from the government provide RASLAG with secure and steady cash flows for the next 15 years. With the boom of RE demand in the country, RASLAG is aiming to be a leader in solar energy development with a project pipeline that will boost its generation capacity.
The company aims to put up multiple RE projects in various locations and deploy energy technologies that will enhance its business and maximize the potential for clean energy in the country.