Alsons Consolidated Resources Inc., the investment holding company of the Alcantara Group, said Friday it has raised P516.7 million through the issuance of debt papers that represent the fourth tranche of its P3 billion commercial paper program with the Philippine Dealing and Exchange Corp.
The proceeds from this debt sale will fund ACR’s working capital.ACR deputy chief financial officer Philip Edward Sagun said the sale provides the funds needed to support the company’s commitment to provide safe, reliable, and affordable energy while prioritizing environmental, community, and economic concerns.
ACR recently maintained its issuer credit rating of PRS Aa minus with a stable outlook from the Philippine Rating Services Corp.
The credit rating is tied to the CP issuance program and underscores ACR’s strong financial capacity relative to other Philippine corporations, with an expectation of stability over the next 12 months.
ACR has a power portfolio comprising four facilities with a total capacity of 468 MW, serving over eight million people across 14 cities and 11 provinces in Mindanao. The company is expanding its renewable energy capacity, with plans for the commercial operations of a 14.5-MW hydroelectric power plant in Sarangani Province this year.
ACR is also developing two other renewable projects: the 37.8-MW Siayan Hydro-Solar Power Plant in Zamboanga del Norte and the 42-MW Bago Hydro Power Plant in Negros Occidental.
The company ventured into the Visayas energy market in 2023 with its 95.2-MW in-island baseload backup power plant in Bohol. This facility provides dependable backup power for consumers in Bohol, ensuring uninterrupted electricity supply during periods when the province is isolated from the Visayas grid due to calamities or natural disasters.
