ASLAG energizes RASLAG-4

Raslag Corp. [ASLAG 1.14, up 8.6%; 1123% avgVol] [link] announced that it has “energized” its 36.6 MWp RASLAG-4 power plant. In this context, “energized” means that the facility has been connected to the power grid and that it is generating a sufficient amount of electricity to allow ASLAG to test its monitoring equipment. ASLAG said this marks the start of the “testing and commissioning” phase. ASLAG expects RASLAG-4 to generate P57.5 million in revenue this year, and over P284 million in revenue in the full FY25.

 

MB bottom-line:  A quick reverse engineering of the projected revenues tells me that we should expect RASLAG-4 to begin official commercial operations in approximately two weeks. According to my coverage of ASLAG, the commercialization of RASLAG-4 is approximately 6 months behind schedule. If the plant began operations in March 2024 as planned it would provide shareholders with P140 million in additional revenue instead of just P57.5 million. That’s a lot better than nothing, but shareholders can’t get that sun (or money) back. It’s water under the bridge by next year and it’s insignificant relative to the project’s 25-30 year lifespan, but these are the things I think about. 

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