Raslag expects P215 M income for power plant

Raslag Corp., the renewable energy platform of the Nepomuceno Group, expects to generate around P214.5 million in revenues in the first two years of operations of its newly energized solar power plant in Pampanga.

Raslag, in a stock exchange filing, said it has started testing and commissioning of the 18.011-megawatt peak (MWp) Raslag-3 solar power plant project.

Raslag-3 is the third operating solar power plant of the listed firm, which also operates the 10.046-MWp Raslag-1 solar power plant and 13.141-MWp Raslag-2 solar power plant, both located in Pampanga.

Raslag said testing and commissioning of Raslag-3 commenced after receipt from the National Grid Corp. of the Philippines (NGCP) of the provisional approval to connect for the energization of the solar power plant project.

This also approved in effect the connection of Raslag’s user system to the grid for feedback power/load purposes and as generator customer.

With the foregoing approvals and the anticipated full swing of Raslag-3 operations, the company said the solar power plant is expected to generate 13.5 gigawatt hours (GWh) for the rest of the year and 27 GWh in 2023.

Raslag-3 is seen potentially contributing revenues of around P71.6 million this year, assuming an average Wholesale Electricity Spot Market (WESM) settlement price of P5.30 per kilowatt-hour.

For next year, its revenue contribution expected to nearly double to P142.9 million in 2023.

Raslag made its debut on the Philippine Stock Exchange in June, raising P700 million after selling 350 million common shares at P2 apiece.