Business Mirror
Published on Thursday, 29 August 2013 19:13 Written by Roderick L. Abad
LISTED Alsons Consolidated Resources Inc. (ACR) posted a 66-percent hike in its net income for the first half of the year, from P163.3 million to P270.9 million, buoyed by the strong performance of its power business.
“The improved net income was aided by the booking of project development fees as other income coming from Sarangani Energy Corp. [SEC],” the company said in a statement. Earnings per share reached P0.043 in end-June as against P0.026 a year ago.
Energy fees earned by ACR’s Mindanao-based diesel-power facilities went up 13 percent in the first half to P1.18 billion, from P1.05 billion in the same period last year.
ACR currently operates power-generation facilities run by its subsidiaries, including Southern Philippines Power Corp.’s 55-megawatt (MW) plant in Alabel, Sarangani, the 100-MW Western Mindanao Power Corp. plant in Zamboanga City, and the newly revamped Mapalad Power Corp. (MPC) plant in Iligan City, which began operating in the first half of 2013.
The MPC plant in Iligan is presently generating 76 MW and will reach its full 98-MW capacity by the end of September.
Apart from the diesel-power plants, ACR is also developing two coal-fired facilities to help provide a stable source of base-load power for Mindanao. These facilities are the 105-MW San Ramon Power Inc. plant in Zamboanga City and the 210-MW SEC plant in Maasim, Sarangani.
The first 105-MW phase of the SEC plant is currently under construction and will begin operating in 2015. ACR owns 75 percent of SEC with 25-percent equity held by Toyota Tsusho Corp., the trading company of the Toyota Group.
ACR also reports that it completed the purchase of the 40-percent ownership by Electricity Generating Public Co. of Thailand in Conal Holdings Corp. source
No comments:
Post a Comment