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Raslag Corporation Taps Stock Market To Raise Funds For Its Two Upcoming Solar Projects In Philippines

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Raslag Corporation taps stock market to raise funds for Raslag 4 and 5, its two upcoming solar projects. Raslag Corporation, Kapampangan renewable energy developer which boasts on being one of the pioneers of solar energy development in the region.

Raslag president and chief executive officer Peter Nepomuceno said it would offer initial public offering (IPO) from May 24 to 30 and will list on June 6, 2022.

Raslag 4 project will cost around PHP1.55 billion while Raslag 5 will cost around PHP2.1 billion. “Land has already been acquired for Raslag 4 and 5 and is being paid on installment basis. Advanced development works, including land use conversion, are currently ongoing for both projects as well,” Nepomuceno said.

One of the key benefits of solar as a part of renewable energy is that its cost does not goes up when compared to coal and fuel prices. Solar holds abundance opportunities.

“(T)he price of solar does not go up, but the price of coal and bunker fuel and other fuels keeps going up. So eventually, solar becomes cheaper. (It) will be cheaper than coal or other fuels. And besides it will be helping the climate by putting in more renewables,” he said.

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More solar companies will opt for public listing in order to raise funds for their solar projects. With these two projects, the company will have 136 MW of solar energy capacity. “In 10 years, we plan to hit at least 250 megawatts,” he added.

RASLAG III 18.011MWp Solar PV Plant Project is closer to fruition with a target commercial operations date of May 16, 2022, in the Philippines, to double its portfolio to 41.198MWp.

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