Renewable energy firm Raslag Corp., led by Pampanga-based businessman Peter Nepomuceno, has secured Philippine Competition Commission (PCC) approval for its first foray beyond solar through a joint venture with Singapore-based Verdant Philippines Alpha Pte. Ltd.
The company confirmed in a Wednesday, 29 October 2025, disclosure that the clearance covers a joint venture involving the acquisition of shares in Philippine Hybrid Energy Systems, Inc. (PHESI) and PHESI Holdings Corp. (PHC).
Under the agreement, Raslag and Verdant will hold a 60-40 stake in PHC, with Raslag as the majority shareholder.
PHC has a controlling interest in PHESI, a renewable energy developer focused on wind power.
PHESI holds Wind Energy Service Contracts with the Department of Energy for the 16-megawatt Puerto Galera Wind Power Project and the 10-megawatt Puerto Galera Wind Power Project Phase 2, both in Oriental Mindoro.
The company also owns a 7.306-megawatt battery energy storage system to support the wind projects.
Raslag said it has signed a Shareholders’ Agreement with Verdant and is scheduled to enter into an Asset and Share Purchase Agreement on 16 May 2026, with the transaction closing subject to compliance with agreed-upon conditions.
“This joint venture aligns with our vision of expanding our renewable energy capacity to at least 1,000 MW by 2035,” Raslag said.