Listed investment holding firm Alsons Consolidated Resources Inc. (ACR) credited its power generation business in Mindanao to the 67 percent rise in net income in the first three months this year to P542.27 million, from only P324 million in 2022.
Its 210 megawatt (MW) coal-fired power plant in Sarangani Province and the 100 MW diesel-fired power plant in Zamboanga City made it possible for the enterprise to report revenues 24 percent higher to P3.31 billion from P2.67 billion in 2022.
Recognized as Mindanao’s first private-sector power generator, ACR has a portfolio of four power facilities with an aggregate capacity of 468 MW serving over eight million people in 14 cities and 11 provinces in the region.
ACR is ramping up its renewable energy capacity over the next few years with around eight run-of-river hydroelectric power facilities in the pipeline.
The first of these hydroelectric power plants is the 14.5 MW Siguil hydro power facility still under construction in Maasim, Sarangani but targeted to begin operations before the end of the year.
The other renewable energy facilities for development include a hydro and solar power project in Zamboanga del Norte with combined capacity of up to 37.8 MW and a hydro power project in the Bago river in Negros Occidental with capacity of up to 42 MW.
