Alcantara-led Alsons Consolidated Resources Inc., (ACR) reported a net income of Php 1.17 billion for the initial half of this year supported by the company’s strong performance of its power plant operations, marking a 70% increase from last year’s Php 689 million.
This increase was reinforced as the parent company also grew its earnings to 91%, totaling Php 346.14 million from Php 180.68 million in the same period last year.
The company also registered an increase in its net earning to Php 605.28 million, 65% higher than Php 364.93 million for the second quarter of the year, while the attributable earnings of the parent company grew by 182%, amounting to Php 255.98 million versus Php 90.51 million in the same period last year.
The revenues of the energy firm also inclined higher from Php 5.4 billion to Php 6.9 billion in the first half of this year.
The key contributor to the income increase of the company is the Sarangani Energy Corporation (SEC) baseload power plant that offers a 210-megawatt (MW) capacity to General Santos, Iligan, Sarangani, Cagayan de Oro, Dapitan, Dipolog, Samal, Kidapawan, Tagum, Pagadian, and Butuan.
Another contributor is the 100-MW Western Mindanao Power Corporation (WMPC) diesel plant in Zamboanga City.
WMPC is the sole significant power generation establishment in the Zamboanga Peninsula, offering crucial auxiliary services to the National Grid Corporation of the Philippines (NGCP). These services play a vital role in maintaining the power grid’s stability in the Western Mindanao Region.
ACR shared that they are now focusing on slowly introducing their renewable energy (RE) projects in the next few years as several projects are already underway. One of the projects is the Siguil hydropower plant which will offer a capacity of 14.5 MW. It is currently under construction in Maasim, Sarangani with its target operation starting before the end of this year.
Two RE facilities in the pipeline, hydro and solar power projects in Zamboanga del Norte, offer a combined capacity of 37.8 MW. Another hydropower project lined up is the 42 MW plant in the Bago River in Negros Occidental.
ACR currently has a portfolio of four power facilities with an accumulated capacity of 468 MW which serves over eight million people in 14 cities and 11 provinces in Mindanao.
