Alsons open to partnerships for new power projects
By Alena Mae S. Flores – June 19, 2023, 6:15 pm
from manilastandard.net
Alsons Consolidated Resources Corp. expressed willingness to forge partnerships with potential investors for new power projects as it fortifies its foray in renewable energy.
“We have always been open to cooperation and partnerships with potential equity investors from similar industries as well as other financial institutions and fund managers in our projects and we will continue to do so in the upcoming years,” Alsons chief investment and strategy officer Antonio Miguel Alcantara said.
Alcantara said Alsons would continue to invest and expand the company’ power generation portfolio in RE projects.
He said the Siguil hydro project was expected to be in commercial operations before the end of the year and represented a significant investment in the company’s long-term plan.
“For our hydro project pipeline, we are working on launching two more projects, the first being the Siayan hydro-Sindangan power plant in Zamboanga del Norte and the Bago hydro river resource,” Alcantara said.
He said Alsons was actively working on developing solar power projects in Mindanao and identified promising opportunities.
“With the addition of solar as an immediate focus area for our group, we intend to launch our first solar project by the end of 2024,” Alcantara said.
Alcantara said that with the launch of the Wholesale Electricity Spot Market in Mindanao in January and the recent energization of the Mindanao-Visayas Interconnection Project, “we are poised to further grow and make the most out of this recent developments.”
The company plans to construct an 83-MW inland backup power plant in Bohol to support an upcoming power supply agreement to commence in 2024.
Alcantara said this would allow Alsons to establish an immediate foothold in the Visayas as another avenue for growth.
He said Alsons was looking at investments of at least P6 billion for the next three years.
“We shall finance our projects through a combination of project and term loans and internally generated funds,” he said.
Alsons is Mindanao’ first private-sector power generator providing electricity to over eight million people in 14 cities and 11 provinces in the country’ second-largest island.
The company has a portfolio of four power plants in Mindanao with a combined capacity of 468 MW.
