Alsons Ramps Up Energy Projects As It Foresees Sustained Rise In PH Power Demand

Alsons Consolidated Resources (ACR) announced that it is accelerating the development of its renewable energy projects and exploring opportunities for expansion, anticipating a continued rise in power demand in the country, aligned with the projected national economic growth of 6-7% this year.

The 14.5-MW Siguil Hydro Power Plant has already completed construction, and once operational. I Photo: Alsons Power Group

ACR disclosed to the Philippine Stock Exchange (PSE) that it remains committed to addressing the growing power demand in Mindanao, providing safe, reliable, and affordable energy to its distribution partners.

The company also focuses on expanding its renewable energy portfolio, aiming to double its renewable energy capacity within the next five years.

Currently, ACR operates a portfolio of four power facilities with a total capacity of 468 megawatts, serving over eight million people across 14 cities and 11 provinces in Mindanao.

Nicasio Alcantara, President and Chairman of ACR, said, “Aligned with the Philippines' goal of increasing the country’s renewable energy capacity, we are actively enhancing our renewable energy portfolio. This includes our hydropower plant in Sarangani and a number of hydro and solar power projects that are currently in various stages of development.”

He shared that ACR is gearing up for the commercial launch of its inaugural hydropower project in Maasim, Sarangani.

The 14.5-MW Siguil Hydro Power Plant has already completed construction, and once operational, this project will significantly contribute to the renewable energy capacity of Sarangani Province.

Additionally, two other renewable energy projects of ACR are making significant progress.

These include an 8.8-MW hydropower plant and a 29-MW solar power project in Zamboanga del Norte, and a 42-MW hydropower project in Negros Occidental.

Alcantara revealed that ACR is also considering constructing solar power plants in Mindanao.

“Plans are well underway, and we expect to launch our first large-scale solar power project by the end of 2024,” he said. He reported that in 2023, ACR saw remarkable growth, posting a net income of approximately PHP2.3 billion, a 22% increase from the previous year.

This growth was primarily driven by the increasing power demand in Mindanao, the high availability rate of ACR’s power plants, and the company’s participation in the Wholesale Electricity Spot Market.

Aside from its renewable energy projects, ACR is also anticipating the commercial operations of its 95.2-MW Inland Backup Power Plant in Ubay, Bohol, this year.

This plant will serve as a backup power source for Bohol during times when power running through the submarine cables connecting Leyte and Cebu to Bohol is interrupted due to calamities or natural disasters.

Alcantara added that ACR goes beyond merely providing electricity, as it is also committed to creating significant and positive impacts on the environment, communities, and economy through its sustainability initiatives.

These initiatives include a Watershed Enhancement Program, Scholarship Programs, Skills Training Programs, and the creation of livelihood and job opportunities.