Alsons Consolidated Resources (ACR) recorded an 11% increase in net income, reaching Php2.53 billion in 2024, driven by strong electricity demand, strategic trading in the Wholesale Electricity Spot Market (WESM), and the launch of its Retail Electricity Supply (RES) unit. The company is ramping up its renewable energy expansion, including its first large-scale solar project in Mindanao.
ACR Deputy Chief Financial Officer Philip Edward B. Sagun credited the company’s financial performance to the continued strong operations of the 237-MW Sarangani Energy Corporation and the implementation of ancillary services agreements for its power plants in Zamboanga and Iligan. “We are confident that our growth prospects will continue, fueled by the anticipated increase in power demand and our strategic focus on expanding our RES portfolio,” Sagun said.
ACR also marked a key milestone in 2024 with the completion and operational launch of the 14.5-MW Siguil Hydropower Plant in Sarangani, its first renewable energy facility. Its newly launched RES unit secured major clients, including Holcim Philippines and Metro Retail Stores Group, Inc., with a combined contracted capacity of 43 MW.
Looking ahead, ACR is set to expand its renewable energy footprint, with plans to launch its first large-scale solar power project in Mindanao this year. “We remain steadfast in our commitment to expanding our renewable energy portfolio, with several projects currently under development,” Sagun said.
What do you think of ACR’s renewable energy expansion? Should more power companies prioritize solar and hydro projects? Share your thoughts below.
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