Sarangani coal plant drives ACR’s revenue; 9-month net income up 198%

By Lenie Lectura -November 15, 2019
from Business Mirror

ALCANTARA-LED Alsons Consolidated Resources Inc. (ACR) booked a whopping 198-percent increase in net income from January to September this year, from P197.39 million in the same period a year ago to P587.7 million.

Its coal plant in Sarangani was identified as the key revenue and income driver for ACR.

Sarangani Energy Corp.’s (SEC) first 105-megawatt (MW) coal-fired baseload power plant began operating in April 2016. It currently delivers power to more than 3 million people in the General Santos-Sarangani area, and other parts of Mindanao.

The second 105-MW section of SEC (SEC 2) began commercial operations in October of 2019. SEC 2 currently provides another 105 MW of baseload power to benefit an additional 3 million people in various parts of Mindanao.

ACR has also commenced civil works on the P4.25-billion, 14.5 MW run-of-river hydroelectric power plant at the Siguil River basin in Maasim, Sarangani province. The project is ACR’s initial entry into renewable energy and will provide additional power to the General Santos/Sarangani region when it begins operations in 2022.

President Duterte will be the guest of honor at an event for the ceremonial switch on of SEC 2 and the launch of civil works for the Siguil Hydro Power before the end of this year.

Another project in ACR’s pipeline is the 105-MW San Ramon Power Inc. baseload coal-fired power plant in Zamboanga City, slated to begin operations in 2023. SRPI will soon select the plant’s engineering procurement and construction contractor.