Raslag inks deal to supply 15-MW solar power to Pampanga – BusinessWorld Online
LISTED renewable energy developer Raslag Corp. has entered into a power supply agreement (PSA) with Pampanga I Electric Cooperative, Inc. (PELCO I) to provide 15 megawatts (MW) of electricity for 10 years.
Under the agreement, Raslag will deliver electricity to PELCO I from a portion of the renewable energy generated by its 36.65-MW Raslag-4, the company said in a stock exchange disclosure on Wednesday.
“This partnership aims not only to strengthen the local energy supply but also to reinforce both parties’ commitment to promoting energy security and sustainability in the region,” the company said.
The parties will jointly file an application to seek approval from the Energy Regulatory Commission for the PSA.
In October last year, Raslag energized the solar farm located in the municipality of Magalang in Pampanga. It is designed to produce 53 gigawatt-hours of electricity and power 24,000 homes annually.
Raslag develops, owns, and operates solar power plants to provide utility-scale renewable energy to on-grid customers.
To date, the company has a total installed capacity of 77.84 MW from four facilities in Pampanga. It is currently developing the Raslag 7 and 8 solar projects, with a combined capacity of 140 MW.
Raslag has estimated an investment of up to P37 billion to achieve its goal of expanding its portfolio to 1,000 MW by 2035. — Sheldeen Joy Talavera