Raslag’s third venture plant went online this July after receiving approval from the National Grid Corporation of the Philippines (NGCP). Raslag’s 18.011MWp plant energization earmarks the additional revenues for the Company of about P215 million for the first two years of its operation. Offering its generation to WESM as a merchant plant, Raslag will capitalize on the uptrend of WESM prices thus far to push its financial figures higher than expected.
The 18.011MWp plant of Raslag – the largest plant in operation, doubles the Company’s solar generating capacity to 41.198 MWp. Raslag-1 (10.046MWp) and Raslag-2 (13.141MWp) both enjoy a FIT rate of P9.68/kWh and P8.69/kWh, respectively. Said FIT rates have an annual escalation based on inflation and foreign exchange rates and guaranteed for 20 years from commercial operations.
For the rest of 2022, the power plant is expected to generate 13.5 gigawatt-hours (GWh) and 27.0 GWh in 2023. It can potentially contribute revenues of around Php 71.6 million in 2022 and Php 142. 9 million in 2023, assuming an average Wholesale Electricity Spot Market (WESM) Settlement Price of Php 5.30/kWh.
The 35.159 MWp RASLAG-4, which will be the company’s largest plant once completed, is in the advanced stages of land acquisition, permitting, and development work. It is expected to achieve commercial operations status in March 2024.
With this added generation capacity, Raslag participates and supports the call from the national government to increase the renewable share of 35% in the generation mix and to reduce harmful gas emissions by 75% in 2030.
