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Manila Bulletin devider Business devider Trade & Industry devider Raslag nears deal close for first wind asset in Singapore

Raslag nears deal close for first wind asset in Singapore

Published Nov 26, 2025 02:09 pm
Renewable energy (RE) firm Raslag Corp. is moving closer to acquiring its first wind energy asset, targeting to close a joint venture (JV) deal with Singapore’s Verdant Philippines Alpha Pte. Ltd. (Verdant) this year.
Robert Gerard Nepomuceno, Raslag president and chief executive officer (CEO), said the company expects to finalize its first international JV agreement to acquire stakes in Philippine Hybrid Energy Systems Inc. (PHESI) and PHESI Holdings Corp. (PHC).
PHESI currently operates two wind farms in off-grid Puerto Galera, Oriental Mindoro. These facilities have a combined capacity of 16 megawatts (MW) and are supported by a 7.306-MW battery energy storage system (BESS).
Under the joint collaboration, Raslag would hold a 60 percent stake in PHC, while Verdant, an RE holding company, would acquire the remaining 40 percent. Financial terms of the partnership were not disclosed.
“Raslag and Verdant can finally close the deal, so we are working on closing hopefully within the year,” Nepomuceno said in a Viber message on Wednesday, Nov. 26.
Nepomuceno also hinted at expansion plans following the deal. “There's room for expansion of another 10-MW peak (MWp), so we are looking into the opportunity, especially when Mindanao is already connected to the Luzon grid,” he said.
Furthermore, Nepomuceno expects that this initial wind investment will facilitate valuable technology transfer for the company.
The Philippine Competition Commission (PCC), through its mergers and acquisitions group, assured that the partnership sees no market overlap, allowing the two companies to proceed with their respective acquisitions.
The antitrust watchdog stated that Raslag and PHESI operate in distinct markets.
“As Raslag operates in the nationwide renewable energy generation market and Philippine Hybrid Energy operates exclusively in the off-grid renewable energy generation market of Mindoro island, they participate in different markets and do not compete geographically,” the PCC said.
The Commission concluded that the transaction is “unlikely to result in a substantial lessening of competition,” citing the presence of larger competitors and a fragmented supply landscape as sufficient competitive constraints post-transaction.
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