RENEWABLE energy company Raslag Corp. said on Wednesday that it had secured approval from the Securities and Exchange Commission (SEC) for the creation of two subsidiaries to manage its upcoming solar power projects.
In a stock exchange disclosure, Raslag said it had received the digital certificates of incorporation for its two wholly owned subsidiaries, Raslag Gerona, Inc. and Raslag Liwayway, Inc.
The company said these entities would serve as vehicles to own and operate Raslag 6 in Gerona, Tarlac, as well as Raslag 7 and Raslag 8 in Santa Rosa, Nueva Ecija.
It is currently developing the Raslag 6 solar project, which is expected to generate 58 megawatt-peak (MWp) of electricity.
Raslag 7 and Raslag 8, with a combined capacity of 140 MWp, are also in the pipeline.
In an earlier interview with BusinessWorldRaslag Chief Finance Officer Karl Geo D. Origeneza said the company had estimated an investment of up to P37 billion to expand its portfolio to 1,000 megawatts (MW) by 2035.
The company develops, owns, and operates solar power plants to provide utility-scale renewable energy to on-grid customers.
At present, Raslag has a total installed capacity of 77.844 MW from four facilities in Pampanga. – Sheldeen Joy Talavera
