RASLAG Corp. has activated its 36.646-megawatt-peak solar power plant in the municipality of Magalang in Pampanga, the renewable energy company said on Thursday.
The Pampanga solar power project, the company’s fourth and largest solar facility to come online, is expected to produce 53 gigawatt-hours of electricity and power 24,000 homes annually.
Raslag is also expecting P285 million in revenues in its first year of operations.
The project has started testing and commissioning to connect to the 69-kilovolt transmission line of the National Grid Corp. of the Philippines.
“We are thrilled to have already completed four organic projects to help meet our nation’s growing energy demand. The RASLAG-4 project marks another step towards putting power back into the hands of Filipinos,” Raslag President and Chief Executive Officer Robert B. Nepomuceno said in a statement.
With the latest project, Raslag’s total installed capacity increased to 77.844 megawatts (MW) in two years of being a publicly listed company.
The company is aiming to increase its renewable energy portfolio to at least 1,000 MW by 2035, with three more projects already underway.
Its next solar project will rise in Sta. Rosa, Nueva Ecija, and is targeted to come online by 2026.
In January, Raslag announced its plan to purchase land parcels with an estimated aggregate area of over one million square meters in the province for around P807.73 million. The sites will house Raslag 7 and Raslag 8 solar projects.
The company develops, owns, and operates solar power plants to provide utility-scale renewable energy to grid customers.
At the local bourse on Thursday, shares in the company increased by 3.81% to close at P1.09. — Sheldeen Joy Talavera
