(The Philippine Star) | Updated July 26, 2013 - 12:00am
MANILA, Philippines - Sarangani Energy Corp. (SEC), a unit of Alsons Consolidated Resources Inc. of the Alcantara Group, signed yesterday a power supply agreement with South Cotabato I Electric Cooperative Inc. (Socoteco I), Alsons said in a disclosure to the Philippine Stock Exchange (PSE).
Alsons is the publicly listed holding company of the Alcantara Group, with investments in energy and power, property and mining.
Under the agreement, Sarangani Energy will provide Socoteco-I with 10 megawatts of electrical capacity from its 210-MW coal-fired power plant in Maasim, Sarangani.
Alsons said the Sarangani plant would have two 105-MW phases, with allotted for Socoteco-1 to be sourced from the second phase of the plant.
The second phase of the plant is expected to be operational by 2016.
The full 105 MW capacity of the SEC plant’s first phase has already been sold out, with bulk or 70 MW of the output cornered by another Cotabato distribution utility – Socoteco-II.
The rest of the output of the plant’s first phase will go to other cooperatives such as the Agusan Del Norte Electric Cooperative (Aneco), the Agusan Del Sur Electric Cooperative Inc. (Aselco), and the Davao Del Norte Electric Cooperative Inc. (Daneco).
The first phase of the Sarangani plant commenced construction last year is expected to begin operating in 2015.
Socoteco I serves Koronadal City and seven municipalities in South Cotabato while Socoteco II covers the entire province of Sarangani, Gen. Santos City and two South Cotabato municipalities.
The SEC plant is intended to be part of a long-term solution to the current power situation in Mindanao, Alsons said.
Apart from the SEC plant, Alsons is in the advanced stages of development for the 105-MW San Ramon Power Inc. coal-fired power plant in Zamboanga City.
Alsons’ other power subsidiaries include Western Mindanao Power Corp.’s 100-MW diesel plant, Southern Philippines Power Corp.’s 55-MW diesel plant in Sarangani, Mapalad Power Corp.’s 98-MW Iligan diesel power plant, and power plant operations and management company Alto Power Management Corp. source
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