Published June 6, 2017, 10:00 PM By Myrna M.
Velasco
Publicly listed SPC Power
Corporation is partly on a paradigm shift on its power investments, with it now
setting its investment radar on renewable energy (RE) projects that may
kick-off with a hydro venture.
The company noted that it already
signed a non-disclosure agreement for a prospective hydropower project, and “is
holding exploratory talks with proponents of and conducting due diligence in a
number of renewable projects.”
Yet as indicated by SPC Chairman
Alfredo L. Henares, the company “remained upbeat with its outlook of the energy
sector,” prompting it then to “seek new opportunities in renewable energy
projects including hydro, geothermal, and biomass power plants.”
Nevertheless, he qualified that this
will not necessarily mean they will abandon plans as to pursuing coal-fired
power projects as well as those on power barges.
Reynante C. Del Rosario, SPC chief
finance officer, asserted that onward, “the group will continue to focus on
further improving efficiencies and leveraging existing business assets to
sustain or improve profitability.”
SPC is generally into fossil fuel
fired-power facilities, hence, its planned foray into RE would be some sort of
divergence from its traditional business model.
Last year, as generally propelled by
its business segments in the power industry, SPC Power Corporation logged
modest income growth to P1.8 billion from the 2015 level of P1.78 billion.
The company has specified though
that it remained a ‘financially robust episode’ for them, with profitability
level translating to P1.16 earnings per share. Such similarly enabled the firm
to declare cash dividend payment of P0.40 per share to its stockholders as of
specified record date.
“These resulted from the strong
performance in each of the company’s core segments, power generation and
distribution,” SPC said.
Essentially, it noted that this
shored up the company’s capital growth to P8.9 billion or an equivalent of
P5.96 per share.
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