Raslag Corp. signs 2-yr solar deal with Filinvest unit

Local renewable energy firm Raslag Corp. has signed a two-year power supply agreement with Filinvest's FDC Retail Electricity Sales Corp., selling and delivering 18 megawatt-peak of solar power from its Raslag III project in Mabalacat, Pampanga.

The Raslag III solar project, which started operating in 2022, can generate 24-25 gigawatt-hours of power yearly on a 12.8-hectare property initially intended for the Wholesale Electricity Spot Market but later shifted to distribution utilities and electric cooperatives.

FDC Retail is the special purpose company of FDC Utilities, Inc., established to engage in retail electricity supply in the Philippines.

Raslag has also received notice of award for a separate 15-megawatt power supply deal with Pampanga I Electric Cooperative Inc. and is partnering with an undisclosed Singapore-based firm on a hybrid energy project.

The company aims to increase its renewable energy portfolio to at least 1,000 MW by 2035, with three more projects underway.