The Nepomuceno-led Raslag Corp. is expected to generate Php 214.5 million once its 18.011 megawatt-peak (MWp) Raslag-3 solar power plant in Pampanga becomes fully operational.
In a disclosure to the Philippine Stock Exchange (PSE), Raslag revealed that it has commenced the testing and commissioning of the Raslag-3.
“Assuming an average Wholesale Electricity Spot Market (WESM) Settlement Price of Php 5.30/kWh, Raslag-3 can potentially contribute revenues of around Php 71.6 Million in 2022 and Php 142.9 Million in 2023,” Raslag said in its disclosure.
Upon full operations, Raslag-3 is expected to generate 13.5 gigawatt-hours (GWh) for the remainder of 2022, and 27 GWh in 2023. The solar plant is among the qualified projects under the Department of Energy’s (DOE) Green Energy Auction Program (GEAP).
The 18 MWp solar plant is Raslag’s third operating solar farm along with the 10.46 MWp Raslag-1 solar plant and the 13.141 MWp Raslag 2 solar plant – both located in Pampanga.
The Nepomuceno company also has the 35.159 MWp Raslag-4 solar plant in its pipeline, where construction is expected to commence in 2023, and commercial operations in 2024. Raslag will be using the proceeds from its initial public offering (IPO) to fund the project.
Raslag is eyeing to expand its solar portfolio to 95MWp following its debut in the PSE in June.