ALCANTARA-LED Alsons Consolidated Resources, Inc. is set to begin construction of 79.8 megawatts (MW) of combined renewable energy (RE) projects next year, the company announced on Tuesday.
In a disclosure to the stock exchange, Alsons said that the projects will include a 37.8-MW solar and run-of-river hydropower plant in Zamboanga del Sur, as well as another 42-MW run-of-river hydropower project in Negros Occidental.
The company’s renewable energy expansion is now in full swing, with a target of adding three renewable projects next year, according to Nicasio I. Alcantara, chairman of Alsons.
Alsons also said that its planned expansion in renewables will encompass a solar power project in General Santos City, which is scheduled for construction in 2024.
The company is actively exploring opportunities to expand its operations beyond Mindanao, said Antonio Miguel B. Alcantara, Alsons’ chief investment and strategy officer.
Currently, the company’s power generation facilities are primarily concentrated in Mindanao. In total, Alsons’ portfolio comprises four power facilities with a combined capacity of 468 MW.
The company is currently in the process of constructing an 83-MW inland backup power plant in Bohol, Mr. Alcantara said.
“As we expand out of Mindanao, we are in the process of constructing 83-MW inland backup power plant in Bohol to support an upcoming PSA to commence this 2024 to allow us to establish an immediate foothold in Visayas as another avenue for growth,” he added.
For this year, Alsons is optimistic about commencing the commercial operations of its 14.5-MW Siguil hydropower plant. Additionally, the Siayan hydro project in Zamboanga del Norte and the Bago hydro project in Negros Occidental are scheduled for development within this year.
At the local bourse on Tuesday, shares in the company closed 1.39% higher to end at 73 centavos apiece. — Ashley Erika O. Jose