Alsons Consolidated Resources Inc. (ACR) successfully raised P1.15 billion from the third round of a total P3 billion worth of commercial paper sale program.
ACR said in a disclosure that the issuance has also been listed on the PSE and use the funds raised for general working capital.
Earlier this year, ACR received an issuer credit rating of PRS Aa minus from the Philippine Rating Service Corp. for its P3 billion commercial paper program.
ACR has since raised funds as it builds up its renewable energy portfolio and has several renewable energy facilities in the pipeline including the 14.5 megawatt Siguil Hydro power plant in Maasim, Sarangani seen operational before the end of the year.
The two other renewable energy facilities slated for development are a hydro and solar power project in Zamboanga del Norte with a potential combined capacity of up to 37.8 MW as well as a hydro power project at the Bago River in Negros Occidental with a planned capacity of up to 42 MW.
ACR has a portfolio of four power plants with aggregate capacity of 468 MW serving over eight million people in 14 cities and 11 provinces.
