Raslag plans to raise P2 billion for solar project

Raslag Corp. plans to raise up to P2 billion by issuing 15 million preferred shares in July. This funding will support a new solar project, primarily the Raslag-7 initiative, which requires about P4.8 billion in investment. If demand is high, Raslag may issue an additional P500 million in shares. BPI Capital Corp. will manage the fundraising efforts. The company aims to complete the solar development by 2027. Raslag has previously activated its Raslag-4 solar plant in Pampanga, which can power around 24,000 homes. The firm seeks to expand its renewable energy capacity to at least 1,000 MW by 2035.