The Toyota group is ready to invest in the upcoming renewable energy projects of Alsons Consolidated Resources Inc. (ACR), particularly hydro resources in the Visayas and Mindanao.
Joseph C. Nocos, vice president of ACR’s power business unit, said in an interview that the Toyota group—through trading arm Toyota Tsusho Corp.—is “keen on (taking up) 25 percent to 40 percent” equity in hydroelectric power projects.
Nocos said Toyota had been a partner of ACR since the Philippine group went into the power business, helping in their diesel-powered generation assets and in other power platforms.
ACR operates three diesel power facilities—the 103-megawatt diesel plant of Mapalad Power Corp. in Iligan City, the 55-MW facility of Southern Philippines Power Corp. in Alabel, Sarangani, and the 100-MW power plant of Western Mindanao Power Corp. in Zamboanga City.
“They (Toyota) are ready to step in and we are ready to welcome them as soon as we have finalized the project cost and other details,” he said.
Nocos said the Alsons Power Group was expected to sign by next month a contract for the engineering, procurement and construction of the 15.1-MW Siguil River hydro plant in Maasim, Sarangani.
He said Toyota was also interested to take part in the 42.8-MW Bago hydro facility in Negros Island.
Alsons Power said it was expecting to start by mid-2018 the construction work on three projects—Siguil and Bago as well as the 105-MW facility of San Ramon Power Inc. in Zamboanga City.
Nocos said the San Ramon project was tagged at P1.71 billion while the Siguil project might cost P943 million.