The renewable energy platform of the Nepomuceno Group, Raslag, saw its first quarter net income jump 137 percent to P52.8 million driven by the successful operations of Raslag-3 and a reduction in IPO-related expenses.
The company experienced robust revenue growth, with total revenues amounting to P118.5 million in the January to March period. The increase was primarily attributed to strong energy sales generated by Raslag-3 operations.
Raslag-3 accounted for 42 percent of the total kilowatt hours energy sales and 34 percent of the total peso sales during the first quarter.
The company . has already begun construction on its latest venture, the Raslag-4 project, which involves the development of a 36.646 MW solar plant in Magalang, Pampanga.
Raslag has successfully acquired the land for its upcoming Raslag-4 project in Bataan, while efforts to secure land for Raslag-6 in Tarlac are still ongoing.