Renewable energy developer Raslag Corp. has obtained clearance from the Philippine Competition Commission (PCC) for its planned acquisition of a controlling stake in PHESI Holdings Corp., marking the company’s expansion into wind and battery energy storage development in the Philippines.

In a disclosure filed today with the Philippine Stock Exchange, Raslag said it received a PCC Certificate of Non-Coverage dated October 24, 2025, effectively clearing the transaction from antitrust review requirements.

The clearance allows Raslag to proceed with its shareholders and asset purchase agreement, signed in May this year, with Singapore-based Verdant Philippines Alpha Pte. Ltd. to jointly acquire PHESI Holdings Corp., which holds a controlling interest in Philippine Hybrid Energy Systems Inc. (PHESI)—a renewable energy developer engaged in wind power generation.

Under the agreement, Raslag will own 60% of PHESI Holdings, while Verdant will take the remaining 40%. The acquisition positions Raslag and Verdant to jointly develop hybrid renewable projects combining wind and energy storage.

PHESI holds wind energy service contracts with the Department of Energy (DOE) granting it the right to develop, manage, and operate the 16-megawatt Puerto Galera wind power project and the 10-MW Puerto Galera wind power project Phase 2, both located in Oriental Mindoro. The company also owns a 7.306-MW battery energy storage system (BESS) in the same area, designed to support the wind projects.

Raslag Corp. currently operates several solar farms in Central Luzon, including the 36.6-MW Raslag-4 solar project in Magalang, Pampanga, which began commercial operations in 2024. The company has announced plans to grow its renewable capacity to 1,000 MW by 2035 through new solar, wind, and hybrid energy projects.

Verdant Philippines Alpha Pte. Ltd. is part of a Singapore-based investment group focusing on renewable energy development and project partnerships across the Asia-Pacific region.

Raslag’s disclosure emphasized that the PCC’s clearance “permits the parties to proceed with the acquisition,” paving the way for the completion of the joint venture.

What are your thoughts on Raslag’s entry into wind and storage development? Could hybrid renewables reshape the country’s energy landscape? Join the discussion below.

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