Alsons enters renewable energy sector
Alsons Consolidated Resources (ACR) Inc., a power company led by the Alcantara family, is moving forward with its foray into renewable energy.
ACR said in a stock exchange filing that it listed an initial P100 million of its P2.5 billion debt paper on Friday.
This would be used to partially finance a P4.25 billion run-of-river hydroelectric power project at the Siguil River basin in Maasim, Sarangani.
ACR said the 15.1-megawatt project would begin commercial operations in 2021.
The move into renewable energy, which will add to ACR’s portfolio of diesel and coal-fired plants, will diversify its revenue mix.
ACR currently has four power facilities in Mindanao generating a combined capacity of 363 MW. These serve over eight million people across 13 cities and eight provinces, including Davao, Cagayan de Oro and General Santos.
ACR is also keen on pursing run-of-river hydroelectric power projects in Negros Occidental, Sarangani, Davao Oriental, Zamboanga del Norte, the two Agusan provinces and Surigao del Sur. The aforementioned projects have a potential capacity of 145 MW.
“We are looking to add up to 145 MW of renewable energy from eight run-of-river power facilities that we will be developing in various locations in Mindanao and Negros Occidental,” said ACR executive vice president Tirso Santillan Jr.
Aside from the hydro projects, ACR said it was in the final stages of building the so-called Section 2 of the 210-MW Sarangani Energy Corp. baseload coal-fired power plant in Maasim.
The plant is expected to start commercial operations within the first quarter of 2019. Moreover, ACR will start building the 105-MW San Ramon Power Inc. coal-fired plant in Zamboanga. Commercial operations are set to begin in 2022. —MIGUEL R. CAMUS
