Raslag Corp., the listed solar farm pioneer, has sealed its joint acquisition of PHESI Holdings Corporation, marking a decisive entry into the wind energy sector and broadening its renewable energy footprint.
The deal, completed with joint venture partner Verdant Philippines Alpha Pte. Ltd., gives Raslag control of Philippine Hybrid Energy Systems, Inc. (PHESI), a trailblazing hybrid power facility in Mindoro. PHESI operates 16.0 megawatts (MW) of wind capacity integrated with a 6.0 MW / 6.0 megawatt-hour (MWh) Battery Energy Storage System (BESS) — the first configuration of its kind in the Philippines.
The hybrid system directly addresses intermittency, one of renewable energy’s biggest hurdles. By storing excess wind power in its battery system, the facility can deliver steadier, more reliable electricity to Mindoro’s island grid, where supply stability is critical.
Raslag said the acquisition aligns with its strategy to diversify beyond solar and accelerate growth in complementary renewable technologies. The company has built its reputation in utility-scale solar development and is now positioning itself as a multi-technology clean energy platform.
The transaction closed after satisfying conditions precedent, including regulatory clearances from the Philippine Competition Commission, the Department of Energy, and the Department of Environment and Natural Resources.
Parties executed the definitive agreements, including the Deed of Absolute Sale of Shares, on Wednesday, February 12.
With the deal finalized, Raslag strengthens its foothold in the country’s evolving clean energy landscape — and signals that hybrid renewables may be the next frontier.
