by Myrna Velasco May 20, 2016 (updated)
The power generation arm of the Alcantara group will be shifting next its investment terrain on renewable energy (RE) developments – with it setting its sights on phased developments of up to 150 megawatts of solar capacity.
This will be in addition to the 180 megawatts of hydropower projects that have already started taking off from the Alsons Power Group’s investment blueprint.
According to Joseph C. Nocos, vice president for business development of Alsons Energy Development Corporation, their foray on solar projects would be on “an opportunistic scale.”
He added “that will be a calibrated approach on development. We will probably start at 10 to 20 megawatts – all in Mindanao.”
Nocos emphasized “given the extent of our landholdings that would be at shovel ready, we have potential for 150MW.”
He further stressed “we’re not doing all of that at one time, because our strategy is to expand our capacity according to what the market needs.”
For hydro, he indicated that the first ones to reach commercial operations would be the 17MW Siguil hydropower project in Sarangani province – which may reach commissioning phase by 2018.
Apart from that, another that is already advancing is the 40MW Bago hydropower project in Negros Occidental. The rest of their targeted hydropower ventures are also in Mindanao.
Nocos similarly told media that they will be tapping partners for their planned RE installations.
He said the targeted co-venturer for solar will be either Japanese or European firm; while for the hydro projects, it could be a “continuing tie-up” with Toyota Tsusho Corporation, a partner in their coal-fired power projects.
“We are in conversation now with major RE player – the choices are between European and Japanese – for solar. For hydro, we probably go along with our partner Toyota Tsusho. We are limited by the 60-40 prohibition under the Constitution – to that extent, I think we can consider a foreign partner,” he explained.