ACR to build 3 power plants simultaneously

ALSONS Consolidated Resources, Inc. ( ACR) said it will carry out the construction of three projects simultaneously next year, with commercial operations of the plants scheduled in 2019, 2020 and 2021.

“We look forward to an exciting year ahead of us as by the middle of 2018 we will have 3 projects under construction simultaneously,” said ACR Executive VicePresident Tirso G. Santillan in a statement over the weekend.

The three project were identified as: the second section of the 210-MW coal-fired power plant in Maasim, Sarangani Province; the Siguil hydro power plant; and the 105-MW coal-fired power plant in Zamboanga City.

“With the addition of these three projects to our power generation portfolio, ACRaffiliated power facilities will have around 588 MW of generating capacity — approximately 25% of Mindanao’s projected peak power demand in 2021,” Mr. Santillan said.

The first 105-MW section of the 210-MW Sarangani Energy Corp.’s plant began operating in April of 2016.

The construction of the plant’s second 105- MW section started in January 2017. Once completed, the new unit is expected to serve three million residents in the provinces of South Cotabato, Davao del Sur, Zamboanga del Norte, Zamboanga del Sur, Cagayan de Oro City and other key areas of Mindanao.

ACR said the plant’s $600million cost makes it the largest power investment in Sarangani province and the entire Region 12.

The Alcantara-led company is also developing the 105-MW San Ramon Power, Inc. (SRPI) baseload coal- fired power plant in Zamboanga City, which is expected to serve not just the city but also nearby areas.

Before the end of 2017, ACR said it will begin construction of the P 3.7- billion 15.1- MW run- of- river hydroelectric power project at the Siguil River basin in Maasim, Sarangani province.

The Siguil hydro project, which marks ACR’s entry into the renewable energy sphere, is expected to begin commercial operations within the first half of 2020. It will provide power to Sarangani, General Santos City and municipalities of South Cotabato.

The new projects are expected to boost the company’s financial performance in the coming years as the first unit alone of the Sarangani plant propelled revenue and earnings growth as of September.

Net earnings as of September rose 15.3% to P 274.48 million from P238.09 million in the same period in 2016. Consolidated revenues increased nearly 7% to P5.22 billion this year from P4.88 billion in 2016.

ACR, which claims to be Mindanao’s first and most experienced independent power producer, also reported a 6.9% increase in parent attributable net earnings to P117.66 million from P110.04 million.

Earnings before interest, taxes, depreciation and amortization ( EBITDA) jumped to P1.28 billion from P718 million in the same period last year. The company said its EBITDA margin for the period improved to 35% from 23% in 2016. —