Nepomuceno Group’s renewable energy arm, Raslag Corporation, is priming for more solar power projects as it procures more properties in Nueva Ecija.
In a disclosure to the Philippine Stock Exchange (PSE), Raslag shared that it considered purchasing an area in Sta. Rosa, Nueva Ecija, estimated to be around 1.009 million square meters, costing around Php 807.73 million, on top of taxes and other miscellaneous expenses.
The company intended to utilize the land for the development of the Raslag VII and Raslag VIII solar power projects, both slated to be connected to the 69-kilovolt transmission line of the National Grid Corporation of the Philippines (NGCP).
Additionally, both internal funds and a loan from the Bank of the Philippines Islands would be used to finance the assets.
With the addition of the solar projects in Nueva Ecija, the company hopes to further extend the overall energy portfolio of ASLAG on top of generating additional revenues.
“This will increase the overall energy portfolio of ASLAG and generate additional revenues,” said the corporation in its disclosure statement.