Listed renewable energy developer Raslag Corp. said its third power plant went online this month after receiving approval from the National Grid Corporation of the Philippines.
The company said its 18.011 megawatts (MW) peak plant can bring in additional revenues of P215 million for the first two years of its operation as it will offer the capacity to the Wholesale Electricity Spot Market (WESM) to capitalize on the uptrend of spot prices and push financial figures higher than expected.
Raslag said its third power plant, which is also located in Pampanga, is currently its largest plant in operation as this is expected to generate a total of 13.5 gigawatt-hours (GWh) of electricity and revenues of around P71.6 million for the entire 2022 as well as 27 GWh and P142.9 million in 2023, assuming an average WESM settlement price of P5.30 per kilowatt hour.
The company added the plant also doubles its current solar generating capacity to 41.198 MW, as Raslag-1 has a capacity of 10.046MWp and Raslag-2, 13.141MWp.
Raslag said its fourth solar project in Pampanga with a capacity of 35.159 MWp is in the advanced stages of land acquisition, permitting and development work. This is expected to achieve commercial operations by March 2024.
Last April, Peter Nepomuceno, Raslag founder, said the company is preparing for expansion outside of Pampanga.
He said the company is negotiating for a property in Hermosa, Bataan as well as in Zambales. – Jed Macapagal
