Alsons Consolidated Resources, Inc. Commits to Driving Business Growth, Builds Renewable Energy Portfolio

Alsons Consolidated Resources (ACR) is dedicated to promoting corporate growth by optimizing its resources, expediting the development of renewable energy projects, and investigating expansion options.

During its Annual Shareholders Meeting on May 30, ACR Chairman Nicasio I. Alcantara stated that the company expects a steady increase in power demand, which is consistent with the country's predicted 6-7% economic growth this year.

ACR reaffirmed its commitment to meeting Mindanao's expanding power demand by providing safe, dependable, and cheap electricity to its distribution partners. In addition, the corporation is working to grow its renewable energy portfolio, with the goal of doubling its capacity within the next five years.

"Aligned with the Philippines' goal of increasing the country’s renewable energy capacity, we are actively enhancing our renewable energy portfolio. This includes our hydro power plant in Sarangani and a number of hydro and solar power projects that are currently in various stages of development," said Alcantara.
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ACR is preparing for the commercial launch of its first hydropower project in Maasim, Sarangani. The 14.5-megawatt Siguil Hydro Power Plant has already been constructed. Once operational, this project will greatly increase Sarangani Province's renewable energy capacity.

In addition, the company's other two renewable energy projects are making significant progress. ACR is getting ready to start work on its renewable energy project on the Zamboanga Peninsula. These include an 8.8-MW hydroelectric power plant and a 29-MW solar power project in Zamboanga del Norte. In addition, we are establishing a 42-MW hydropower plant in Negros Occidental.

Committed to growing its renewable energy portfolio, ACR is also looking into constructing solar power plants in Mindanao. “Plans are well underway, and we expect to launch our first large-scale solar power project by the end of 2024,” shared Alcantara.
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In 2023, ACR had extraordinary development, reporting a net income of roughly 2.3 billion, a 22% increase over the previous year. This expansion was fueled mostly by rising power demand in Mindanao, the high availability rate of ACR's power plants, and the company's involvement in the Wholesale Electricity Spot Market.

ACR anticipates that its 95.2 Megawatt In-Island Backup Power Plant in Ubay, Bohol, will begin commercial operations this year, in addition to other renewable energy initiatives. This facility would act as a backup power source for Bohol in the event that power from the submarine cables connecting Leyte and Cebu to Bohol is disrupted due to calamities or natural disasters.

“We are committed to driving business growth by maintaining highly efficient plant operations, accelerating our project implementation, and continuously seeking opportunities to expand our footprint,” Alcantara said.

ACR goes beyond simply supplying electricity. It is also committed to making significant and positive contributions to the environment, communities, and economy. This is demonstrated by its numerous sustainability and community development efforts, including the Watershed Enhancement Program, Scholarship Programs, Skills Training Programs, and the establishment of livelihood and work opportunities, among others.

ACR now maintains four power facilities with a total capacity of 468 megawatts, servicing nearly 8 million people in 14 cities and 11 provinces of Mindanao.