Alsons nets P1.8b in three quarters

By Alena Mae S. Flores – November 14, 2023, 8:25 pm
from manilastandard.net

Alsons Consolidated Resources Inc. on Tuesday reported net earnings of P1.8 billion for the first three quarters of 2023, a 32 percent jump year-on-year from P1.35 billion last year.

Alsons attributed the increase in earnings during the period to the growing energy market.

This translates to Alsons’ net income attributable to its parent company, the Alcantara Group, growing by 12 percent, or P504.6 million compared to P451.1 million in the same period last year.

Revenues grew 8 percent during the period to P10 billion from 2022’s P9.3 billion net income.

Alsons remains a vital energy market participant in Mindanao through its 210-megawatt (MW) Sarangani Energy Corp. (SEC) baseload power plant, which provide power to key areas in Mindanao including Sarangani Province, General Santos, Cagayan de Oro, Iligan, Dipolog, Dapitan, Pagadian, Samal, Tagum, Kidapawan, and Butuan.

The company’s 100 MW Western Mindanao Power Corp. (WMPC) diesel plant in Zamboanga City and the 103 MW Mapalad Power Corp. (MPC) diesel plant in lligan City, supplies ancillary services to the National Grid Corp. of the Philippines to help stabilize the power grid in the Western Mindanao region.

It is also focused on building its renewable capacity over the next few years, as it sets its sights on the high potential of the emerging RE market.

The 14.5 MW Siguil hydropower plant in Maasim, Sarangani is on track for completion by yearend.

Alsons has also lined up a hydro and solar power project in Zamboanga del Norte with a potential combined capacity of up to 37.8 MW, and a hydro power project in the Bago River in Negros Occidental with a planned capacity of up to 42 MW.

The company has a portfolio of four power facilities with an aggregate capacity of 468 MW serving over eight million people in 14 cities and 11 provinces in Mindanao.