Alsons Consolidated Resources Celebrates 25th Listing Anniversary at the PSE
Mindanao-based Alsons Consolidated Resources, Inc. (ACR) celebrated its 25th listing anniversary at the Philippine Stock Exchange in Makati City and led the traditional ringing of the bell to signal the opening of trading on Wednesday (April 11, 2018). Over the years, ACR has been a key driver in promoting the economic growth and development of Mindanao through its subsidiaries engaged primarily in power generation. ACR is Mindanao’s first and most experienced independent power producer.
According to ACR chairman and president Tomas I. Alcantara, the Mindanao-based firm “will continue to grow its businesses and remains steadfast in its commitment to the economic development of the South, with the main focus on providing safe, reliable and affordable power to Mindanao and eventually the Visayan region.”
ACR affiliates and subsidiaries currently own and operate four power facilities with a combined generating capacity of 363 megawatts serving 8 million people in key provinces and cities of Mindanao. By 2021, the company projects a total generating capacity of 588 megawatts equivalent to 25 percent of Mindanao’s projected peak power demand once projects that are in the pipeline are completed, among them the second 105-megawatt section of the 210-megawatt baseload coal-fired power plant of ACR subsidiary Sarangani Energy Corporation (SEC ) in Sarangani province, a 15-megawatt run-of-river hydroelectric plant also in Sarangani, and another baseload coal-fired power plant in Zamboanga City. ACR also announced plans to develop power ventures outside of Mindanao, starting with planned run-of-river hydro power projects in Negros Occidental.
For his part, PSE chairman Jose Pardo congratulated ACR on its listing anniversary and acknowledged the company’s significant contribution to the economic growth of Mindanao through its pioneering businesses in the region. Pardo also hailed ACR’s entry into the renewable energy sector through its hydro projects, starting with the 15-megawatt run-of-river hydro project in Maasim, Sarangani.