Alsons chairman and president retires

Alsons logo and Mr Alcantara

Alsons Consolidated Resources, Inc. (ACR), Mindanao’s first private power generator, has announced that its Chairman and President Tomas Alcantara has decided to to retire for health reasons effective March 1.

His brother Nicasio, who previously led ACR from 1995 to 2001, will take over upon retirement. Tomas, a former Trade Undersecretary, will remain as a company director.

Aside from leading ACR, Nicasio was Chairman and CEO of Petron Corporation from 2001 to 2009. He currently holds leadership positions and board directorships in several companies including ACR Mining Corporation where he serves as Chairman and Phoenix Petroleum where he sits as an independent director.

ACR’s board of directors have likewise confirmed the appointment of Alexander Benhur M. Simon as Vice President and Group Chief Finance Officer and the assumption of Antonio Miguel B. Alcantara to the new position of Chief Investment and Strategy Officer.

“Under Tomas Alcantara’s leadership, ACR helped end the Mindanao Power shortage by bringing online two major power facilities that added 313 megawatts (MW) to the island’s power supply. It was because of his vision and guidance that ACR is now a major power generator with four power facilities serving over eight million people in 14 cities and 11 provinces in Mindanao. ACR will continue to benefit from his wisdom and experience as he continues to serve in the board. We welcome Nicasio Alcantara and his many years of leadership experience in various corporations as he once again assumes the top posts in this company,” ACR Executive Vice President Tirso Santillan, Jr. said in a statement.

“As we look forward to the future of ACR, we are pleased to have Alexander Benhur Simon join us as our new CFO to help us navigate the opportunities and challenges of finance in the next few years. We are likewise excited to announce Antonio Alcantara’s new leadership role as ACR’s Chief Investment and Strategy Officer where he will contribute to developing and implementing the company’s strategic investment and business direction,” he continued.

ACR is currently building a Php4.5 billion 14.5MW run-of -river hydroelectric power plant at the Siguil River basin in Maasim, Sarangani — the company’s first foray into renewable energy. The Siguil hydroelectric power plant is expected to begin commercial operations in 2022. Also in the company’s pipeline is the Php16 billion 105MW San Ramon Power, Inc. baseload coal-fired power plant in Zamboanga City, slated to begin operations in 2024.

At least seven more run-of river hydroelectric plants in various stages of development, including two in the pipeline: the 22MW Siayan (Sindangan) Hydro plant in Zamboanga Del Norte and the 42MW Bago Hydro plant in Negros Occidental, the company’s first power venture outside of Mindanao.

Alsons also recently received an A+ rating for the first tranche of its commercial papers worth Php2 billion, which it plans to offer within the year.

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