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Manila Bulletin devider Business devider The Stock Market devider Alcantara's ACR pivots to solar, hydro to drive long-term growth

Alcantara's ACR pivots to solar, hydro to drive long-term growth

Published May 28, 2026 03:38 pm

Alsons Consolidated Resources Inc., the listed power-generation arm of the Alcantara group, is accelerating its shift toward renewable energy to secure long-term recurring revenue streams and diversify its portfolio.

During the company’s annual stockholders’ meeting on Thursday, May 28, ACR Deputy Chief Financial Officer Philip Edward Sagun said the expansion into clean energy runs alongside efforts to boost shareholder value.

The company’s pipeline includes the solar facilities of Southern Energy Corp., a 75-megawatt alternating current solar plant in General Santos City, and other hydropower projects in Mindanao and Visayas. 

These initiatives are expected to support long-term earnings growth while positioning the corporation to benefit from the increasing demand for sustainable energy solutions, Sagun said.

Development of the Bawing solar project in General Santos, South Cotabato, recently gained momentum after securing a “Green Lane” certification from the Board of Investments, a designation aimed at expediting regulatory approvals for strategic investments. 

Meanwhile, ACR is repurposing its 55-megawatt diesel plant in Sarangani into a 98.7-megawatt alternating current solar facility. Engineering and construction for the first phase of the solar conversion have been awarded to Sinohydro Corp. Ltd. and PowerChina Philippines Corp.

These initiatives are expected to enhance operational sustainability, strengthen financial resilience, and support sustained value creation for shareholders, Sagun said.

Even as the company pivots toward renewables, its existing fossil-fuel assets continue to drive immediate financial performance. ACR noted that its 210-megawatt Sarangani Energy Corp. thermal plant had a significant impact on overall first-quarter results. The coal-fired facility supplies baseload power to major economic hubs in Mindanao, including General Santos City, Cagayan de Oro, and Iligan City.

The company also reported a customer base of about 118 megawatts within its retail electricity supply business during the January-to-March period.

The operational performance lifted ACR’s first-quarter consolidated net income by 15% to ₱543 million, up from ₱472 million in the same period a year earlier. Total revenue for the three-month period rose to ₱3.36 billion.

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Alsons Consolidated Resources Inc. (ACR)
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