Raslag plots further Singapore deals after wind farm buy-in

Pampanga-based Raslag Corp. is seeking further collaborations with Verdant Philippines Alpha Pte. Ltd. following the completion of their joint venture to acquire wind assets in Oriental Mindoro.

Robert Gerard Nepomuceno, Raslag president and chief executive officer (CEO), said the transaction, which closed Thursday, Feb. 12, gives Raslag a 60 percent stake in PHESI Holdings Corp., with Singapore-based Verdant holding the remaining 40 percent.

The holding company controls Philippine Hybrid Energy Systems Inc., the operator of two wind farms in the off-grid area of Puerto Galera. The project is Raslag’s first foray into wind energy and battery storage, moving beyond its core solar portfolio in Central Luzon.

The Puerto Galera facilities have a combined capacity of 16 megawatts and include a 7.3-megawatt battery energy storage system. The hybrid configuration is designed to address the intermittency of wind power by storing excess electricity, ensuring a more stable supply for the Mindoro island grid.

The Philippine Competition Commission cleared the deal after determining that the two companies operate in distinct markets and the acquisition would not significantly reduce competition in the renewable energy sector.

Nepomuceno said in a briefing that the relationship with Verdant is expected to continue across future developments. While the total investment for the PHESI acquisition was not disclosed, Raslag is aggressively increasing its capital deployment to meet a long-term goal of 1 gigawatt of installed capacity by 2035.

The company is preparing to spend between ₱2 billion and ₱3 billion in 2026, a fourfold increase from its ₱500 million budget last year. Much of that capital is earmarked for the expansion of solar projects in Nueva Ecija, which are slated to begin commercial operations by 2027.

By keeping Verdant as a strategic partner, Raslag aims to leverage international expertise as it scales its operations.

The company currently operates approximately 78 megawatts of solar capacity and is looking to add another 10 megawatts to the Mindoro wind project as part of its immediate expansion plans.

Source:
Manila Bulletin
https://mb.com.ph/2026/02/12/raslag-plots-further-singapore-deals-after-wind-farm-buy-in
Published on February 12, 2026

Photo:
Manila Bulletin