July 24, 2020 | 12:11 am By Adam J. Ang
ALSONS Consolidated
Resources, Inc. (ACR) said it would meet the target commercial runs for its
energy projects in the pipeline.
Despite the pandemic’s
impact, various projects of the Alcantara-led firm are well on-track for
completion, carrying them out in a “controlled and safe” manner. It viewed
these as the company’s “contribution” to the country’s economic recovery.
“Even though your company has been fortunate enough to be able to keep our
projects on track, this situation brought about by the pandemic has had a
considerable impact to our economy,” ACR Executive Vice-President Tirso G.
Santillan, Jr. said during the company’s annual stockholders’ meeting,
Thursday.
“We thus
view our continuing pursuit of these upcoming projects as your company’s
contribution to the economic recovery of our country by helping create new jobs
and stimulate the local economies in the areas where we operate,” he added.
Having
delayed a little during the lockdown months, Alson’s P4.5-billion hydropower
plant in Maasim, Sarangani province will still be ready for its commercial
launch over the next two years. The run-of-river generator, the company’s first
entry into renewables, will have a 14.5-megawatt (MW) capacity.
Two
other hydropower facilities in the pipeline: the 22-MW Sindangan plant in
Zamboanga del Norte and the 42-MW Bago generator in Negros Occidental, are also
under “advanced” stages of construction.
Its 105-MW San Ramon
Power, Inc. (SRPI) coal-fired power plant in Zamboanga City is expected to have
its engineering, procurement and construction contract signed within the third
quarter of the year. The P16-billion baseload plant is set to go online in
2023.
Moreover, it is seeing
no delays in the target turnover and occupancy of the two under-construction
Ayala Land Premier towers within its 26-hectare mixed-use township project with
Ayala Land, Inc. in Davao City.
Meanwhile, Alsons
committed to keeping the lights on for all its customers.
“Your Company’s plants will continue to operate and supply power to our
customers even as we continue to try our best to help the power distributors
and consumers who have been adversely affected financially by the pandemic,”
Mr. Santillan said.
In the first quarter,
the listed firm’s earnings soared nearly three times year on year to P310
million as revenues jumped with the full run of its “income driver” 210-MW
Sarangani Energy Corp. (SEC) coal-fired baseload facility.
Its
revenues rose to P2.21 billion in the quarter, compared with P1.22 billion
posted in the same period last year, due to the contribution of SEC’s 105-MW
second unit, which came online in October last year.
ACR currently runs four
power generators with a combined capacity of 468 MW, serving over eight million
households in 14 cities and 11 provinces in Mindanao.
On
Thursday, shares in Alsons dipped 1.68% to close at P1.17 apiece.
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