RASLAG Corp. on Thursday said it had officially closed the joint acquisition of PHESI Holdings Corp., the controlling owner of Philippine Hybrid Energy Systems, Inc. (PHESI), in partnership with Verdant Philippines Alpha Pte. Ltd.
The move marks a strategic expansion of Raslag’s renewable energy portfolio, particularly into the wind energy sector.
PHESI operates a pioneering hybrid facility combining 16.0 megawatts (MW) of wind capacity with a 6.0-MW/6.0-MWh-hour battery energy storage system.
Raslag said the facility, the first of its kind in the Philippines, would address the challenge of intermittency by storing excess energy and delivering a reliable, continuous power supply to Mindoro’s island grid.
The acquisition was finalized following the fulfillment of regulatory conditions, including approvals from the Philippine Competition Commission, the Department of Energy, and the Department of Environment and Natural Resources.
The parties executed the definitive agreements, including the deed of absolute sale of shares, on Feb. 12, 2026.
Raslag said the transaction underscored its commitment to sustainable energy solutions in support of the Philippines’ transition toward cleaner power generation.
Raslag shares were unchanged at P0.84 each on Thursday.
