Raslag hunts for new renewable power bets

MANILA, Philippines — Nepomuceno-led Raslag Corp. stays on the hunt for new renewable energy investments as it enters its next expansion phase and targets a bigger role in green power biddings.

Raslag president and CEO Robert Nepomuceno said the company is exploring emerging technologies such as solar on stilts, projects where panels are mounted on concrete pile structures above water areas.

“We plan to join some green energy auctions (GEA) in the future,” Nepomuceno said during a recent investor briefing hosted by the Philippine Stock Exchange.

The government’s GEA program is designed to attract investments in clean energy and support the country’s goal of increasing the share of renewables in the power mix to 35 percent by 2030 and 50 percent by 2040 from the current 25 percent.

At present, Raslag’s portfolio remains largely anchored on solar, operating at least four ground-mounted facilities totaling over 77 megawatts (MW) across Pampanga.

Earlier this year, the company marked its entry into the wind power space with the acquisition of a 16-MW wind project equipped with a six-MW-hour battery storage in Mindoro.

For now, Raslag is focused on onshore wind, taking a more cautious approach to offshore wind investments.

“We’re not interested in offshore wind because of the long period of returns and the high cost of going to offshore wind,” Nepomuceno said.

Raslag has programmed up to P3 billion for capital spending this year, with much of the budget going toward the development of what could become its largest power project to date.

Raslag Liwayway, a planned 140-MW solar facility paired with a 100-MWh battery battery storage, is targeted for completion by 2028.

“Raslag Liwayway is still in the development phase. We’re still in the process of having the lands converted and getting the necessary permits from the Department of Energy,” Raslag CFO Karl Geo Origeneza said.

To help move the project forward, the company has tapped Greencity Energy Philippines Inc. as the owner’s engineer.

Greencity Energy, together with its German-led expert team, would support the project across key stages, including development, design review, procurement, construction, testing and commissioning.

Over the next decade, Raslag is targeting at least 1,000 MW of installed capacity, a more than 10-fold increase from its current portfolio.