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Manila Bulletin devider Business devider Alsons income leaps 32% to P1.8-B

Alsons income leaps 32% to P1.8-B

Published Nov 15, 2023 06:44 am

At A Glance

  • The operations base of the power assets of Alsons is still in Mindanao; and the company has so far cemented its stature as one of the major players in the grid.<br> 

With sustained uptick in its energy sales, the net income of Alsons Consolidated Resources Inc. (ACR) had climbed to P1.8 billion within January to September this 2023, posting 32-percent escalation from a relatively moderate pace of P1.35 billion earnings last year.

Given such uptrend in its bottom line, the Alcantara-led firm indicated that the attributable income to its parent firm rose 12% to P504.6 million compared to year ago’s P451.1 million.

On the revenue front, the company similarly nailed solid growth of 8.0% to P10 billion versus a relatively leaner P9.3 billion last year.

The main asset that had driven up income stream for the company had been its 210-megawatt Sarangani coal fired power facility, which has been lighting up homes and businesses in key cities and provinces in Mindanao.

The reinforcement to the company’s top and bottom lines are its other power generating assets – mainly the 100 MW Western Mindanao Power Corporation (WMPC) diesel plant in Zamboanga City and the 103 MW Mapalad Power Corporation (MPC) diesel plant in lligan City.

The Alcantara firm claimed these generating facilities “play a vital role in supplying ancillary services to the National Grid Corporation of the Philippines to help stabilize the power grid in the Western Mindanao region.”

The operations base of the power assets of Alsons is still in Mindanao; and the company has so far cemented its stature as one of the major players in the grid.

While currently logging upturn in financial performance at its thermal assets, Alsons had consistently trumpeted its investment shift to renewable energy (RE) facilities moving forward.

The company reiterated that it is “focused on building its RE capacity over the next few years, with several renewable energy facilities in the company's pipeline,” and its clean energy investment take-off point will be its 14.5MW Siguil hydropower project which is being lined up for completion by yearend.

Programmed next in the company’s project development pipeline would be a combination of run-of-river hydropower facilities as well as solar with aggregate capacity of 37.8MW that shall be sited in Zamboanga del Norte.

Alsons has likewise started taking its geographical investment spin into the Visayas grid with its propounded 42MW Bago hydropower installation in Negros Occidental.

When these projects are completed, they will add up to the company’s power generation portfolio now hovering at aggregate 468MW capacity.

Related Tags

hydropower net income Mindanao grid Alsons Consolidated Resources Inc power plants
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