Raslag, HK-based firm in RE deal negotiations
The local RE firm confirmed that it is in preliminary discussions with a Hong Kong-based company for the purpose of entering into a possible partnership in the energy sector
Renewable energy firm Raslag Corp., led by Pampanga-based businessman Peter Nepomuceno, is negotiating with potential Hong Kong-based partners to further expand its clean energy footprint.
In a stock exchange report on Tuesday, the company confirmed that it "is in preliminary discussions with a Hong Kong-based company for the purpose of entering into a possible partnership in the energy sector."
"Appropriate disclosures shall be made as soon as the details thereof are firmed up and/or definitive agreements are entered into," it added.
Solar power projects
Early this year, the company sought a P1.45-billion loan from the Bank of the Philippine Islands to fund its two solar power projects.
Of the total amount, P1.2 billion was allocated for the construction and development of the 35-megawatt or MW Raslag-4 solar plant in Magalang, Pampanga.
On the other hand, the remaining P250 million was channeled for the acquisition of a 42-hectare land in Tarlac province for its Raslag-VI solar farm.
In August, the company's Board of Directors approved the P8.99-billion purchase of 1,198.72 square meters for the RASLAG 4 switching station.