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Peter Nepomuceno acquires Tarlac property for RASLAG-6 solar porject

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.

Milyonaryo | Latest News