January 12, 2025 | 12:00am
MANILA, Philippines — Raslag Corp., the renewable energy arm of the Nepomuceno Group, is supplying clean power to Japanese-controlled Team Energy Corp. through its solar farm in Pampanga.
The companies have entered into a power purchase agreement, which took effect on Jan. 4, with Team Energy buying the full energy generation of the 18.011-megawatt (MW) peak Raslag-3, the third solar project of Raslag.
This power deal is expected to ensure stable revenues and optimized utilization of Raslag-3, a merchant plant in the Wholesale Electricity Spot Market that began operating in July 2022.
“As we enter into our first power purchase agreement, this partnership with Team Energy provides a more stable rate for our electricity generation, offering us a more predictable financial outlook,” Raslag president and CEO Robert Nepomuceno said.
Raslag, which switched on its fourth and largest solar farm last year, wants to achieve at least 1,000 MW of capacity over the next decade, with three more projects under construction.
It also intends to expand outside Pampanga, with plans to develop and operate its next solar plant in Santa Rosa, Nueva Ecija by 2026.
“As a company built from the ground up, Raslag has consistently demonstrated its ability to bring power projects to life and operate them efficiently. We remain committed to expanding our capacity to deliver reliable and sustainable energy solutions,” Nepomuceno said.
Team Energy, on the other hand, is a joint venture between Japanese firms Tokyo Electric Power Co. and Marubeni Corp.
Last October, the company handed back the 1,200-MW Sual coal-fired thermal power plant to the government, with Sual Power Inc. of tycoon Ramon Ang’s San Miguel Global Power taking over the operation of the asset.
Despite the transfer, Team Energy still operates the 735-MW Pagbilao power station in Quezon and maintains a 50-percent interest in the 420-MW Pagbilao Unit 3 power project, a partnership with the Aboitiz Group.
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