Alsons Consolidated Resources Inc. (ACR) has successfully listed the first tranche worth P1.6 billion of its P3 billion commercial paper program on the Philippine Dealing and Exchange Corp. (PDex). This development underscores ACR’s commitment to expanding its renewable energy initiatives and reinforces its position in the local energy market.
According to Philip Edward Sagun, ACR deputy chief financial officer, the commercial paper program will provide essential funding to support the company’s working capital needs, as ACR continues to focus on scaling its hydro and solar power projects across the Philippines.
“Our mission to address the country’s growing demand for reliable and affordable power is supported by this cost-effective financing program, which will aid in our renewable energy expansion and further empower progress in Mindanao and beyond,” Sagun said.
ACR is set to break ground this year on two major hydro power plants: the 37.8 MW Sindangan-Zambo River plant in Zamboanga del Norte and the 53 MW Bago hydro plant in Negros Occidental. Additionally, the company recently completed its 14.5 MW Siguil hydro power plant in Maasim, Sarangani, which is now operational.
Looking ahead, ACR is also anticipating the launch of the first phase of its 95.2 MW Bohol in-island diesel power plant in Ubay, which will provide critical backup power for Bohol province during grid outages caused by natural disasters.
Beyond its growing renewable energy assets, ACR is expanding its retail electricity supply business. Since its inception, the company’s retail electricity supply (RES) unit has secured power supply agreements with Holcim Philippines and Metro Retail Stores, totaling 43 MW.
As a key player in Mindanao’s energy sector, ACR continues to provide essential power generation through the 237 MW Sarangani Energy Corp. coal-fired plant, along with ancillary services to the National Grid Corporation via the 105.8 MW Mapalad Power Corp. and the 107 MW Western Mindanao Power Corp.
ACR’s strategic financing, coupled with its expanding energy portfolio, highlights its pivotal role in advancing the country’s energy security and meeting the evolving needs of businesses and consumers.
