Businessman Peter Nepomuceno is acquiring a 42-hectare property in Tarlac to serve as the site for his listed firm’s upcoming RASLAG-6 solar power project.
In a stock exchange filing, Raslag said it would purchase parcels of land in Gerona, Tarlac for P650 per square meter, or a total of about P273 million.
The selling price was determined following negotiations with the multiple sellers of the land.
Raslag said the acquisition would be funded by Raslag’s internally-generated funds, and may be aided by bank loans, as necessary.
The property will serve as the site for RASLAG-6, which is planned to connect to the NGCP 69-kilovolt transmission line which passes through the area and those adjacent to it.
The additional operating solar plant is expected to increase the company’s income in the near future.
