RASLAG Corp. announced the commissioning of an 18.011-megawatt peak (MWp) solar power plant in Pampanga that it expects to contribute P71.68 million in revenues this year.
The solar plant, named Raslag-3, is the company’s third operating solar power plant.
The company received provisional approval from the grid operator to connect Raslag’s user system to the grid for feedback power or load purposes and as a generator customer.
National Grid Corporation of the Philippines certified that the connection for testing and commissioning purposes will take place effective on July 7 until Sept. 7, 2022.
Raslag-3 is expected to generate 13.5 gigawatt-hours (GWh) for the rest of 2022 and 27 GWh in 2023.
The company said that assuming an average wholesale electricity spot market (WESM) settlement price of P5.30 per kilowatt-hour (kWh), Raslag-3 can potentially contribute revenues of around P71.68 million for the second half of 2022, P142.94 million in 2023 and P142.51 million in 2024.
Raslag also noted that this projection could be higher as WESM price is on the upward trend from P7.86 per kWh in January to 9.88 per kWh in June.
Raslag was founded in 2013 and will now operate three feed-in tariff eligible solar power plants with a combined capacity of 41.2 MWp, including Raslag-3.
At the stock market on Monday, the company’s shares slid by 3.38% or P0.07 to finish at P2 apiece. — Justine Irish DP. Tabile