Raslag, FDC ink two-year power supply deal
Local renewable energy (RE) firm Raslag Corp. has inked a power supply agreement (PSA) with Filinvest’s FDC Retail Electricity Sales Corp. (FDC RES).
In a disclosure to the Philippine Stock Exchange on Monday, March 31, Raslag said it has signed a two-year PSA with the retail electricity subsidiary of FDC Utilities Inc. (FDCUI), which would allow Raslag to sell and deliver 18 megawatt-peak (MWp) from its Raslag III solar power project in Mabalacat, Pampanga.
The solar project is located in a 12.8-hectare (ha) property in Brgy. Bical, Mabalacat and Brgy. San Jose, Magalang, Pampanga.
Raslag III solar project’s generation was intended for the Wholesale Electricity Spot Market (WESM) but later shifted its generation to distribution utilities (DUs) and electric cooperatives (ECs) to meet the renewable portfolio standards and the green energy auction (GEA).
According to Raslag, the two-year PSA can be extended if necessary.
FDC RES is a retail electricity supplier that provides reliable, secure, and affordable power to contestable consumers, allowing customers with a 500-kilowatt (kW) threshold to aggregate their loads and participate in the retail competition and open access (RCOA) program.
Similarly, Raslag has previously received a notice of award for a 15-MW power supply deal with Pampanga I Electric Cooperative Inc. (PELCO I).
Last week, the listed RE company announced that it is partnering with an undisclosed Singapore-based firm to acquire shares in a hybrid energy project.
Raslag currently develops, owns, and operates solar power plants, the majority of which are located in Pampanga.
Raslag’s other projects include the 10-MW Raslag I ground-mounted solar plant in Brgy. Suclaban, Mexico, Pampanga, which began operations in 2015, and the 13-MW Raslag II ground-mounted solar plant, which started commercial operations shortly after.
Raslag II became the second solar power plant in the Philippines to be commissioned under the second round of the feed-in-tariff (FIT) scheme.