Alsons Consolidated Resources (ACR), a key player in the Mindanao energy landscape and the publicly-listed company of the Alcantara Group, announced the successful third tranche issuance of its PHP 3 billion Commercial Paper program.
The latest issuance, valued at PHP 1.149 billion, has been listed on the Philippine Dealing and Exchange Corporation (PDEx). The proceeds derived from this will primarily be used for ACR’s general working capital, showcasing the company’s unwavering commitment to steering economic progress in Mindanao.
Earlier this year, ACR received an Issuer Credit Rating of PRS Aa minus from the Philippine Rating Service Corporation in relation to the company’s P3.0 billion Commercial Paper program.
ACR is committed to strengthening its renewable energy projects, aiming for at least 50% of its energy mix to come from renewable sources. ACR is currently taking center stage with its renewable energy (RE) initiatives, highlighted by its first RE facility— the 14.5 MW Siguil Hydro Power plant in Sarangani, projected to be completed by the end of 2023. Additionally, ACR has embarked on the development of a hybrid hydro and solar power project in Zamboanga del Norte and a hydro power project on the Bago River in Negros Occidental. These ventures feature capacities of up to 37.8 megawatts and up to 42 megawatts, respectively.
With a portfolio of four power facilities with a combined capacity of 468 MW, ACR serves over eight million individuals across 14 cities and 11 provinces in Mindanao.