Raslag eyes to buy properties in Nueva Ecija for 2 solar projects

January 17, 2024

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RASLAG Corp. will buy lots in Nueva Ecija, for an estimated P807.73 million, for its two solar projects, the solar energy developer said on Wednesday.

In a stock exchange disclosure, Raslag said its board has approved the purchase of lots with an estimated total area of over one million square meters.

The properties will house Raslag 7 and Raslag 8 solar projects located in Brgy. Liwayway, Sta. Rosa, Nueva Ecija.

“The agricultural lands shall be converted into industrial-commercial use for solar plants purposes,” the company said.

The board has also approved the selection of contractors for the 36.65-megawatt peak (MWp) Raslag 4, specifically Solenergy Systems, Inc. for operations and maintenance and Pure & Pam, Inc. for the construction of the microwave tower.

Situated in San Pablo, Magalang, Pampanga, the project has an estimated total construction cost of P1.7 billion. Of the total, about P380 million will be sourced from initial public offering proceeds, P120 million from internally generated funds, and P1.2 billion from the Bank of the Philippine Islands. — Sheldeen Joy Talavera