Raslag Corp. has confirmed plans to spend around PHP 3 billion in 2026 for the development of its 140-megawatt (MWdc) solar power project with a 100-megawatt-hour battery energy storage system (BESS) in Liwayway, Nueva Ecija, targeting testing and commissioning by the fourth quarter of 2027.

In a disclosure filed with the Philippine Stock Exchange, the company said the planned capital expenditures will cover engineering and design works, procurement of photovoltaic systems, civil and electrical works, construction activities, and other development costs necessary to advance the project. 

Raslag President Robert Gerard Nepomuceno told reporters that the Liwayway facility will be the company’s next major project to come online, noting that no new capacity is expected to be commissioned this year. The project is designed at 140 MWdc, with the company aiming for about 100 MWac output.

While the disclosed capex for 2026 is pegged at around PHP 3 billion, Nepomuceno said the total project cost for the Liwayway development is estimated at around PHP 7 billion, reflecting the full lifecycle cost of the utility-scale solar and storage facility.

Chief Financial Officer Karl Geo Origeneza said the company’s 2026 capex remains under management review and could range between PHP 2 billion and PHP 3 billion, depending largely on permitting progress. He added that last year’s capex stood at about PHP 500 million, largely limited to land acquisition activities.

“For 2026, the capex is mainly for the importation of PV systems and conversion-related expenses, particularly for Liwayway,” Origenza said, adding that construction has yet to begin as the project is still undergoing conversion processes.

Raslag said it remains open to bringing in partners for the project, with management indicating this is “highly likely.”

The company also disclosed that it currently operates around 70 MW of installed capacity across four assets and is pursuing an aggressive expansion strategy, targeting 1,000 MW of total capacity by 2035. In addition to Nueva Ecija, the company has identified Bataan and Tarlac as future development sites and is also studying potential expansion outside Luzon.

Nepomuceno added that Raslag is evaluating participation in government procurement mechanisms, including opportunities arising from terminated Department of Energy service contracts, citing the appeal of fixed pricing structures under programs such as the Green Energy Auction Program.

Founded in 2013 and controlled by the Nepomuceno family of Pampanga, Raslag is among the early developers of utility-scale solar projects in Central Luzon. It currently operates RASLAG-1 and RASLAG-2 in Pampanga under the Feed-in Tariff regime and has been scaling up its footprint with larger, integrated solar and storage projects.

How could Raslag’s planned PHP 3-billion capex and Liwayway Solar + BESS project affect renewable capacity growth and grid flexibility in Central Luzon? Share your thoughts.

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