Raslag Corp. is positioning 2026 as a year for capital deployment as the solar developer ramps up spending to support its expansion into Nueva Ecija, aiming to hit a long-term capacity target of 1,000 megawatts by 2035.

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Nepomuceno-led RASLAG Corp. has formally entered the wind-battery energy storage system (BESS) segment following the closing of its joint acquisition of PHESI Holdings Corporation, gaining control of a 16.0-megawatt (MW) wind facility integrated with a 6.0 MW / 6.0 megawatt-hour (MWh) battery system in Mindoro.

In a disclosure today, the listed renewable energy developer confirmed the completion of the transaction with its joint venture partner, Singapore-based holding company Verdant Philippines Alpha Pte. Ltd.

Under the acquisition structure, RASLAG will hold a 60% stake in PHESI Holdings, while Verdant Philippines will own the remaining 40%. PHESI Holdings is the controlling owner of Philippine Hybrid Energy Systems, Inc. (PHESI), the operator of the Mindoro wind project.

The acquired asset consists of 16.0 MW of wind capacity integrated with a 6.0 MW / 6.0 MWh battery energy storage system. The hybrid configuration allows excess wind generation to be stored and dispatched when needed, supporting grid stability in an island system historically reliant on diesel-fired power.

PHESI’s project in Puerto Galera, Oriental Mindoro achieved commercial operations in the third quarter of 2019. It comprises eight 2.0 MW wind turbines, along with a dedicated substation and a 7.5-kilometer 69-kilovolt transmission line. A battery storage component was subsequently developed to complement the plant. Earlier plans also outlined a potential additional 10 MW wind expansion.

Source:
Power Philippines
https://powerphilippines.com/raslag-officially-enters-wind-bess-space-with-phesi-acquisition
Published on February 12, 2026

Photo:
Power Philippines

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Robert Gerard Nepomuceno, Raslag president and chief executive officer (CEO), said the transaction, which closed Thursday, Feb. 12, gives Raslag a 60 percent stake in PHESI Holdings Corp., with Singapore-based Verdant holding the remaining 40 percent.

The holding company controls Philippine Hybrid Energy Systems Inc., the operator of two wind farms in the off-grid area of Puerto Galera. The project is Raslag’s first foray into wind energy and battery storage, moving beyond its core solar portfolio in Central Luzon.

The Puerto Galera facilities have a combined capacity of 16 megawatts and include a 7.3-megawatt battery energy storage system. The hybrid configuration is designed to address the intermittency of wind power by storing excess electricity, ensuring a more stable supply for the Mindoro island grid.

The Philippine Competition Commission cleared the deal after determining that the two companies operate in distinct markets and the acquisition would not significantly reduce competition in the renewable energy sector.

Nepomuceno said in a briefing that the relationship with Verdant is expected to continue across future developments. While the total investment for the PHESI acquisition was not disclosed, Raslag is aggressively increasing its capital deployment to meet a long-term goal of 1 gigawatt of installed capacity by 2035.

The company is preparing to spend between ₱2 billion and ₱3 billion in 2026, a fourfold increase from its ₱500 million budget last year. Much of that capital is earmarked for the expansion of solar projects in Nueva Ecija, which are slated to begin commercial operations by 2027.

By keeping Verdant as a strategic partner, Raslag aims to leverage international expertise as it scales its operations.

The company currently operates approximately 78 megawatts of solar capacity and is looking to add another 10 megawatts to the Mindoro wind project as part of its immediate expansion plans.

Source:
Manila Bulletin
https://mb.com.ph/2026/02/12/raslag-plots-further-singapore-deals-after-wind-farm-buy-in
Published on February 12, 2026

Photo:
Manila Bulletin

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RASLAG proudly welcomes our new Chief Strategy Officer, Reyland Benjamin Nepomuceno.

He graduated with a Master’s degree in Business Administration from University of Western Australia and AB Interdisciplinary Studies from Ateneo de Manila University.

With more than 25 years of experience gained from the Power Industry, Telco, IT, BPO, ISO Certification Body and one of the Big Four Consulting Firms in the world, we’re confident that Reyland’s leadership will help in lighting the future with renewables and achieve our 1,000 MWp renewable energy capacity target by 2035.

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In a stock exchange filing, Raslag said it is in talks with a foreign firm for a potential partnership.

“Raslag is in preliminary discussions with a Hong Kong-based company for the purpose of entering into a possible partnership in the energy sector,” the company said.

No further details were provided by the company regarding the potential collaboration.

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

Raslag-4, the company’s fourth solar power project, was granted with the solar energy-operating contract by the Department of Energy in October last year.

Raslag-4 is targeted for commercial operations in the first quarter of 2024.

In August, its board approved the purchase of lot for the Raslag-4 switching station with an estimated aggregate area of 1,198.72 square meters for an estimated purchase price of P8.99 million.

Raslag early this year also announced its board’s approval for the acquisition of parcels of land totaling to approximately 42 hectares in Gerona, Tarlac for the Raslag-6 project.

The company’s third solar project, Raslag-3, started operations in July 7, 2022.

Raslag-3 is connected directly to the 69-kilovolt transmission grid of the National Grid Corp. of the Philippines and its generated energy is supplied as a merchant plant in the Wholesale Electricity Spot Market.

For its incoming projects, Raslag said these are planned to be connected directly to the national transmission grid, same with Raslag-3.

Source:

Raslag in talks with foreign firm for potential partnership

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Her appointment at Raslag Corp. aligns with the company’s strategic goal to enhance and fortify its commitment to Good Governance. Ms. Tiongson’s addition is valuable to the already strong and dynamic Raslag Board, contributing not only to gender diversity but also bringing a diverse skill set to the team. Her extensive experience in local and international banking and investments, coupled with her involvement in financial technology, as well as her background as a business lecturer and strategy advisor, is expected to be a significant asset, not only to the Board but also to the company as a whole.

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The fourth venture of RASLAG Corporation (RASLAG IV), which is located on a 25.2-hectare (251,750 sqm.) plot of land in Barangay San Pablo (Talimundoc), Magalang, Pampanga, is set to boost RASLAG’s current energy portfolio by 36.646 MWp, inching closer to the company’s 250 MWp pipeline and is expected to begin its commercial operations by the first quarter of 2024.

RASLAG IV’s construction will also pave the way to job opportunities for local employment that align with the company’s initiative to promote and make a positive impact to the environment.

The solar plant construction is estimated to be completed this December 2023 prior to its testing and commissioning on the first quarter of 2024.

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Lighting the future with renewables, we are RASLAG Corporation.

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Raslag 3 was energized on July 8, 2022, and prompted the start of its testing and commissioning. This milestone commenced immediately after the receipt of Provisional Approval to Connect to energize as a Generator from the National Grid Corporation of the Philippines (NGCP).

With the success of the energization, the said plant is now connected to the 69 kilo-Volt Transmission asset of NGCP that bridges the generated electricity produced from the panels. Even in its Testing and Commissioning stage, Raslag’s third venture solar project is being compensated as a price taker in the Wholesale Electricity Spot Market for its produced electricity.

This 18.011MWp added capacity doubles the current portfolio of the Company to 41.198MWp. With the anticipated full commercial operations of Raslag 3, the Company expects a 13.5 GWh sale with P71.7 million in revenue for the rest of the year, and P142.9 million in revenue in 2023. This is all assuming a WESM Settlement Price of P5.30/kWh.

The assumed revenues may go higher given that the actual average WESM prices are on an upward trend this year as shown by the table below:

Given the national government’s call to increase the renewable energy target of 35% and reduce harmful gas emissions by 75% by 2030, the Company participates to help achieve a clean and sustainable future that will supply an equivalent of 16,200 residential customers and stay intently true with our vision of lighting up the future with renewables.

Sources:

https://www.philstar.com/business/2022/07/12/2194666/raslag-expects-p215-million-income-power-plant

https://edge.pse.com.ph/mobile/com.pse.ctrl.company.krx?method=openDiscViewer&edge_no=0f7555ee6dc805453470cea4b051ca8f&odisy_yn=0

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The IPO raised ₱700 Million that will be used to fund the equity portion of RASLAG-4’s development and construction and the pre-development works for RASLAG-5, and other general corporate purposes.

ASLAG President, Chairman and CEO Peter G. Nepomuceno said: “Throughout our history, the Nepomuceno Group has been guided by my parents’ motto, “Do it well or not at all.” It is this simple but timeless principle that motivates us in Raslag Corp. as we aim to become a major renewable energy player in the country.”

Mr. Nepomuceno also expressed pride in the company’s fundamentals and its future and stated that ASLAG has a clear strategy to achieve a 10-fold growth of its current solar portfolio in the next ten years of 250MW. With the third venture ready for energization, it would nearly double RASLAG’s generation capacity.

According to Mr. Monzon, “The listing of Raslag will grow the portfolio of companies in the Renewable Energy space in our stock market.  As an advocate of sustainability, being a member of the Sustainable Stock Exchanges Initiative, the PSE understands the crucial need for renewables in the fight against climate change. I am pleased that through this IPO, the PSE was able to support Raslag’s capital-raising activity”.

As Mr. Monzon cited, the LSE tranche of ASLAG was oversubscribed by 1.5 times.  ASLAG IPO hit the market with the first of its trades coming through at ₱2.48/share which represented a 24% gain over the offer price of ₱2.00/share with ₱128 Million traded in the first five minutes. The day trade ended in a finish of ₱2.05/share

Sources:

https://corporate.pse.com.ph/raslag-corp-holds-maiden-share-listing/

https://www.philstar.com/business/stock-commentary/2022/06/07/2186656/raslag-ipo-started-wild-ended-mild

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