By Danessa Rivera (The
Philippine Star) | Updated December 14, 2016 - 12:00am
MANILA, Philippines –
The power unit of Alsons Consolidated Resources Inc. is contemplating on
listing its stocks on the local bourse as soon as all its new power plants
start running, a company official said.
It is a likely
scenario that Alsons Power Group would hold an initial public offering (IPO) in
the medium term, Alsons corporate planning officer Antonio Miguel Alcantara
said.
“Maybe in the next
few years, once we have all these coal plants COD’ed, meaning they’re all
running already and they already have earnings,” he said.
“When doing IPO, the
question that comes into play is construction... so you can get better
valuations,” Alcantara said.
Next year, the
company will work on two coal-fired power plants—the 210-megawatt (MW) Section
2 of the Sarangani Energy Corp. (SEC) plant and the 105-MW San Ramon Power Inc.
(SRPI).
Earlier, Alsons
executive vice president and COO Tirso Santillan said the two projects are
estimated to cost around $600 million, of which approximately $180 million will
be funded by equity until 2020.
Section 2 of SEC is
targeted for completion in 2019 while SRPI will be finished by 2020.
Apart from the
coal-fired power plants in the pipeline, Alsons Power will also start working
on two renewable energy (RE) projects, the 15-MW Siguil run-of-river power
project and a 20-MW solar farm both in
Sarangani.
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