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Alsons Consolidated Resources (ACR) Inc., an Alcantara family-owned electricity company, is continuing its breakthrough in renewable energy.
ACR said in a stock market statement that it had already announced Friday to have received 100 million pesos on a debt of P2.5 billion.
This sum would be used to partially finance a run-of-river hydropower project worth 4.25 billion weighings in the Siguil River basin at Maasim, Sarangani.
ACR stated that the 15.1 megawatt project would begin commercial operations in 2021.
The switch to renewable energy, which will add to ACR's portfolio of diesel and coal power plants, will diversify its revenue mix.
ACR currently has four power plants in Mindanao, with a total capacity of 363 MW. These centers serve more than eight million people in 13 cities and eight provinces, including Davao, Cagayan de Oro and General Santos.
ACR is also keen to pursue run-of-river hydropower projects in the provinces of Negros Occidental, Sarangani, Davao Oriental, Zamboanga del Norte, Agusan and Surigao del Sur. The above projects have a potential capacity of 145 MW.
"We wish to add up to 145 MW of renewable energy from eight power plants over the water that we will develop in various sites in Mindanao and Negros Occidental," said Vice President ACR Executive, Tirso Santillan Jr.
In addition to hydropower projects, ACR said it is nearing completion of the construction of the so-called Section 2 of Sarangani Energy Corp.'s 210 MW coal-fired power plant. in Maasim.
The plant is expected to be operational in the first quarter of 2019. In addition, ACR will begin construction of the 105 MW San Ramon Power Inc. coal-fired power plant in Zamboanga. Commercial operations should begin in 2022. –MIGUEL R. CAMUS
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