Raslag Corp. is looking to acquire a 42-hectare land in Gerona, Tarlac for its proposed Solar power plant project.
In a disclosure to the Philippine Stock Exchange (PSE), Raslag said that it plans to purchase a property in barangays Plastado and Carino for the Raslag-6 project amounting to Php 273 million (or Php 650 per square meter).
Raslag stated that the deal includes an initial payment of P61.43 million, plus a P27.30 million deposit to be made once the purchase agreement is signed. The remaining amount will be split into nine equal payments of around P20.48 million, to be paid monthly
Raslag-6 will be linked to the National Grid Corp. of the Philippines’ (NGCP) 69-kilovolt transmission line.
Raslag also disclosed that it will purchase the property from several sellers, with the final cost being decided through negotiations. The funds for the acquisition will primarily come from the company’s internal sources, but they may also seek assistance from bank loans if needed.
In related developments, Raslag tapped Solenergy Systems, Inc. as its onshore engineering procurement and construction (EPC) contractor for its Raslag-4 at Php 204 million. Pam&Pam, Inc. will be installing the Php 35.09 million 69kV transmission line of the project.
Pure & Pam is also in charge of constructing the Raslag-4’s Php 26.90 million switching station.