Listed renewable energy firm Raslag Corp. said its board approved a strategic joint venture with a Singapore-based company to acquire a hybrid renewable energy project.
Raslag said the proposed joint venture with the yet-to-be identified Singaporean company is a significant step to expand its renewable energy portfolio.
The joint venture aims to acquire shares in a hybrid renewable energy project, combining solar and wind energy sources. This acquisition is part of Raslag’s strategy to diversify its energy assets and contribute to the growing demand for sustainable power solutions.
The board of Raslag authorized its president and chief executive officer, Robert Gerard B. Nepomuceno, to negotiate and finalize the terms and conditions of the joint venture agreement. Nepomuceno will be responsible for signing the necessary documents related to the acquisition of shares in the renewable energy project.
This partnership reflects Raslag’s ongoing efforts to align with global sustainability goals while also strengthening its position in the rapidly evolving renewable energy market. The acquisition and collaboration with a Singapore-based partner is expected to enhance Raslag’s capabilities in delivering cleaner, more sustainable energy solutions.
The company has three solar power projects: RASLAG-1, RASLAG-2, and RASLAG-3. RASLAG-1 and RASLAG-2 operate under the feed-in tariff scheme of the government. While RASLAG-3 is a merchant plant in the wholesale electricity spot market. Raslag’s projects are all based in Pampanga.
