SOLAR energy firm Raslag Corp. on Wednesday said it planned to set aside some P2-P3 billion for capital expenditures (capex) this year, significantly higher than last year's P500 million.
"We plan to allocate around P2-P3 billion in capex for 2026, which is more than [the] P500 million we set aside last year,” Raslag Chief Financial Officer Karl Geo Origeneza said.
“These will mostly be used for the importation of photovoltaic systems from China for our projects, and land conversion costs. Note [that] we are focusing on our Liwayway solar project so the capex will mostly be for that," he added.
President and CEO Robert Gerard Nepomuceno said in a separate interview that Raslag’s efforts were currently centered on the 100-megawatt (MW) Liwayway solar project with a battery energy storage component.
The project, located in Nueva Ecija, is expected to come online in 2027.
"Our current portfolio is around more than 70 MW, and we are currently busy with the Liwayway [project]. We plan to increase our capacity in the future, as we have a target of 1,000 MW by 2035,” Nepomuceno said.
“In light of this, we are also looking at possibly securing some of the service contracts that were terminated by the Department of Energy," he added.
Raslag shares on Wednesday gained two centavos to close at P0.88 per share.
