ACR hydro plant to start operations in 2022

BY LENIE LECTURA – MAY 21, 2021
from Business Mirror

Alcantara-led Alsons Consolidated Resources Inc. (ACR) said Thursday its P4.5-billion run-of-river hydroelectric power plant would commence operating next year.

The 14.5 megawatt (MW) Siguil Hydro power project is currently under construction at the Siguil River basin in Maasim, Sarangani Province.

“Work is ongoing as we speak and Siguil Hydro is on track to commence commercial operations in early 2022 to provide a source of renewable, reliable and affordable power to key areas of Mindanao,” said ACR Executive Vice President Tirso G. Santillan, Jr. said.

It plans to put up 7 more run-of river hydroelectric power facilities to follow Siguil Hydro, the company’s foray into renewable energy (RE).

Two more hydro plants—the 22 MW Siayan (Sindangan) Hydro Power Plant in Zamboanga del Norte and the 42 MW Bago Hydro Power Plant in Negros Occidental—are in the immediate pipeline.

“Both projects are now in the process of completing the development phase and we expect to be able to update you on their status towards the end of this year,” Santillan said.

Funding will be sourced from a combination of internal funds and borrowings.

Aside from RE, the company’s prospective 105 MW San Ramon Power, Inc. baseload thermal plant in Zamboanga City is expected to begin operating in early 2024.

ACR Chief Financial Officer Alexander Benhur said the company will continue to pursue its diesel power investments.

“We believe there will be a continued need for these assets as far as providing ancillary service in the Mindanao grid. And secondly, given the prospects of declining solar power systems, as well as energy storage, ACR is also looking into hybrid solutions, as well as relocation of those facilities in other areas within the country that will require energy from these types of facilities,” he said during the company’s stockholders’ meeting.

ACR currently has a portfolio of 4 power facilities in Mindanao with an aggregate capacity of 468 MW serving over 8 million people in 14 cities and 11 provinces in the island.

The company foresees stable energy demand in Mindanao for the rest of 2021.  “Despite the Covid-19 pandemic, energy demand in Mindanao has recovered as most commercial and industrial customers have started to resume normal operations. These customers include shopping malls, canneries, and manufacturers of essential commodities.”