posted June 04, 2017 at 07:42 pm by Alena
Mae S. Flores
Listed SPC Power Corp. is bullish on
the prospects of the power sector and plans to go into renewable energy
investments as a platform for its expansion program.
SPC Power chairman Alfredo Henares
said in a statement the company remained upbeat on its outlook of the energy
sector.
He said the company was seeking new
opportunities in renewable energy projects, including hydro, geothermal and
biomass power plants.
The company also has not abandoned
plans to pursue coal-fired power projects and power barges.
SPC Power posted a consolidated
income of P1.788 billion in 2016, or equivalent to a P1.16 earnings per share
from P1.51 billion in 2015.
“These resulted from the strong
performance in each of the company’s core segments, power generation and
distribution,” SPC Power said.
The company’s financial condition
improved with capital growing to P8.9 billion, or equivalent to P5.96 per
share. SPC Power declared a dividend payment of P0.40 per share.
“Moving forward, the group will
continue to focus on further improving efficiencies and leveraging existing
business assets to sustain or improve profitability,” SPC Power chief finance
officer Reynante Del Rosario said
SPC Power owns the 55-MW Naga
Land-Based Gas Turbine Power Plant in Colon, Naga, Cebu.
SPC Power, along with partner Kepco
Philippine, also owns a 200-MW coal plant in Naga that was completed in 2011 to
augment power supply in the Visayas. Visayas’ power reserves remain thin.
The plant, majority controlled by
Kepco Philippines, was built under a build-operate-own agreement with the
government.
The company owns the 32-MW Power
Barge 104, 77-MW Panay diesel plant and 16-MW Bohol diesel plant.
SPC Power is composed of a group of
local businessmen led by Henares and Dennis Villareal as president, Kepco
Philippines and other minority investors.
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