Connect with us

Business and Economy

Alsons eyes completion of 3 power projects in 3 years

Published

on

"The second section of Sarangani Energy Corporation (SEC) has a 105-megawatt capacity. This is the second section of 105-megawatt power facility in Maasim, Sarangani Province," he said. (Photo: Alsons Consolidaed Resources)

“The second section of Sarangani Energy Corporation (SEC) has a 105-megawatt capacity. This is the second section of 105-megawatt power facility in Maasim, Sarangani Province,” he said. (Photo: Alsons Consolidated Resources)

MANILA — Top management of Alsons Consolidated Resources, Inc. (ACR) announced that it is set to complete three major power projects within the next three years.

They include the second section of Sarangani Energy Corporation baseload coal-fire power plant; the 15-megawatt Siguil Hydro Project; and the San Ramon Power Power, Inc. baseload coal-fired power plant, ACR executive vice president and chief operating officer Tirso Santillan told the Philippine News Agency (PNA) on Friday.

“The second section of Sarangani Energy Corporation (SEC) has a 105-megawatt capacity. This is the second section of 105-megawatt power facility in Maasim, Sarangani Province,” he said.

Santillan said when operations begin in the first quarter of 2019, the SEC will provide baseload power to about six million residents of Sarangani, General Santos City, Cagayan De Oro City, Koronadal, Kidapawan, Iligan, Dapitan, Dipolog, Pagadian, Butuan, Digos, Samal, Compostela Valley, South Cotabato, Agusan del Norte, Agusan del Sur, Davao del Norte, Davao del Sur, Zamboanga del Norte and Zamboanga del Sur.

“(For SEC), we will get the funding from a combination of equity investments and a syndicated loan with a 13.5-year tenor with a three-year grace period,” he added.

The Siguil Hydro Project, on the other hand, is a prospective “run-of-river hydroelectric plant” in Siguil River basin in Maasim, Sarangani, according to Santillan. Expected to be finished by the second half of 2020, it will provide additional power for the people of Sarangani and General Santos City.

Meantime, San Ramon Power, Inc. in Sitio San Ramon, Talisayan, Zamboanga City, is expected to be operational by the second half of 2021. This will generate up to 105 megawatts capacity, he said.

Santillan said the mode of financing for Siguil Hydro Project and San Ramon Power, Inc. is yet to be finalized.

The executive noted that the locations of these projects were chosen based on proximity of customers, and other factors such as strong ties with host communities, peace and order situation. Technical factors such as proximity to transmission lines were also considered.

“(With these projects), the people in our service areas, through their respective power distribution utilities and electric cooperatives, will enjoy the safe, reliable power (supply),” Santillan said.

Meanwhile, during its stockholders’ meeting on Thursday, management announced a 27 percent increase in its net income for the first quarter of 2018, or PHP103 million against PHP81 in the same period in 2017.

It was also reported that revenues for the first quarter was PHP1.678 billion, from PHP1.648 billion in the first quarter of 2017.

“Gross profits in the first quarter of 2018 rose to PHP501 million, from PHP463 million in the first quarter last year,” ACR’s management added.

Robert Yenko, ACR chief financial officer, attributed the increase in revenue and profit to the operations of the first section of the SEC baseload coal-fired power plant.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Maria in Vancouver

Maria in Vancouver1 week ago

Fantabulous Christmas Party Ideas

It’s that special and merry time of the year when you get to have a wonderful excuse to celebrate amongst...

Lifestyle2 weeks ago

How To Do Christmas & Hanukkah This Year

Christmas 2024 is literally just around the corner! Here in Vancouver, we just finished celebrating Taylor Swift’s last leg of...

Lifestyle1 month ago

Nobody Wants This…IRL (In Real Life)

Just like everyone else who’s binged on Netflix series, “Nobody Wants This” — a romcom about a newly single rabbi...

Lifestyle2 months ago

Family Estrangement: Why It’s Okay

Family estrangement is the absence of a previously long-standing relationship between family members via emotional or physical distancing to the...

Lifestyle3 months ago

Becoming Your Best Version

By Matter Laurel-Zalko As a woman, I’m constantly evolving. I’m constantly changing towards my better version each year. Actually, I’m...

Lifestyle3 months ago

The True Power of Manifestation

I truly believe in the power of our imagination and that what we believe in our lives is an actual...

Maria in Vancouver4 months ago

DECORATE YOUR HOME 101

By Matte Laurel-Zalko Our home interiors are an insight into our brains and our hearts. It is our own collaboration...

Maria in Vancouver5 months ago

Guide to Planning a Wedding in 2 Months

By Matte Laurel-Zalko Are you recently engaged and find yourself in a bit of a pickle because you and your...

Maria in Vancouver5 months ago

Staying Cool and Stylish this Summer

By Matte Laurel-Zalko I couldn’t agree more when the great late Ella Fitzgerald sang “Summertime and the livin’ is easy.”...

Maria in Vancouver6 months ago

Ageing Gratefully and Joyfully

My 56th trip around the sun is just around the corner! Whew. Wow. Admittedly, I used to be afraid of...