Alcantara-led Alsons Consolidated Resources (ACR) is earmarking Php6.54 billion pesos for the construction of four power generation projects.
In a disclosure to the Philippine Stock Exchange, ACR confirmed an earlier report saying that the amount would be used to finance the prospective 105-megawatt (MW) San Ramon Power, Inc. baseload thermal plant in Zamboanga City and three hydroelectric power plants.
The planned hydro plants, according to ACR EVP and COO Tirso Santillan, Jr., are the 14.6MW Siguil project in Sarangani, the 22MW Siayan (Sindangan) project in Zamboanga Del Norte, and the 42MW Bago Hydro plant in Negros Occidental.
Santillan said the Siguil hydro plant targets to begin commercial operations in 2022, while the San Ramon thermal plant would go online come 2024.
ACR also plans to raise its stakes in renewable energy technologies with seven more run-of-river hydroelectric plants in the pipeline. The hydro plants would comprise majority of the company’s facilities once completed and go online.
The company, which has 468MW in capacity in its portfolio, recently received “PRS A+ (corp.) with a Stable Outlook” issuer credit rating for the proposed first tranche of its new commercial papers.
Image from ACR website.