Alsons Consolidated Resources, Inc. (ACR) reported a 28 percent jump in revenue for the first half of 2016 to P3.2 billion from P2.5 billion last year.
In a disclosure to the Philippine Stock Exchange, the company’s revenue rise to P3.2 billion was due to the commercial operations of the first 105 megawatts (MW) section of ACR’s 210-MW Sarangani Energy Corporation (SEC) coal-fire baseload power plant in Maasim, Sarangani Province.
SEC’s first station went online in April to provide baseload power in the provinces of Sarangani, Compostela Valley, Davao del Norte, Agusan del Norte, and Agusan del Sur. It also provided power to General Santos City, Iligan, Butuan, Samal, Tagum and other major populated areas of Mindanao.
The SEC power plant is ACR’s single largest investment in Sarangani Province and the entire region 12. The second 105 MW section of the plant is set to begin construction this year. Engineering, procurement and construction (EPC) contract was awarded to JGC Corporation of Japan and JGC Philippines.
SEC Section 2 is set to contribute 105 MW of baseload power to an additional three million residents of South Cotabato, Cagayan de Oro, and other areas in Mindanao.
Target completion of the project is in April 2019.
Along with SEC Section 1, three other diesel plants of ACR also contribute a helping hand in Mindanao’s power shortage; Mapalad Power corporation diesel plant in Iligan contributes 103 MW, while Southern Philippines Power Corporation (SPPC) facility in Alabel, Sarangani shares 55 MW, and Western Mindanao Power Corporation (WMPC)’s 100 MW power plant in Zamboanga.
ACR is developing a 15 MW Siguil River run – of – river hydroelectric plant also in Maasim, Sarangani and a 105 MW San Ramon Power, Inc. baseload coal – fired power plant in Talisayan, Zamboanga City. The hydroelectric plant is expected to open in 2019, and is ACR’s first venture on renewable energy.
ACR’s power facilities are expected to garner a total generating capacity of 688 MW by the end of 2019.
