The full operation of its power plants to meet the continuing demand for electricity in Mindanao, despite the Covid-19 quarantine last year, resulted in Alsons Consolidated Resources Inc., (ACR) – the publicly listed company of the Alcantara Group – significantly increasing its full-year net income for 2020.

ACR posted a consolidated net income of ₱1.87 billion in 2020 from ₱974 million in 2019.

Net income attributable to the parent for 2020 was at ₱325 million – a substantial rise from ₱148 million the year before. ACR’s consolidated revenues for 2020 grew to ₱9.47 billion from ₱6.80 billion reported in 2019.

ACR is currently building a 14.5 mega-watt (MW) run-of-river hydroelectric power plant at the Siguil River basin in Maasim, Sarangani Province. This is the company’s first foray into renewable energy. The Siguil Hydro power plant is expected to begin commercial operations in early 2022. Also in the company’s pipeline is the ₱16 billion 105 MW San Ramon Power, Inc. baseload coal-fired power plant in Zamboanga City.

The company is slated to focus on renewables with at least seven more run- of -river hydroelectric plants in various stages of development. It has two hydro facilities in the pipeline, the 22 MW Siayan (Sindangan) Hydro plant in Zamboanga del Norte and the 42 MW Bago Hydro plant in Negros Occidental.

ACR Executive Vice President Tirso G. Santillan said, “Our power facilities have continued to dispatch power to our customers in order to ensure that the people of Mindanao have access to a reliable and steady supply of electricity in these difficult times. This year will see us continuing to pursue our new power projects in Sarangani Province, Zamboanga City, Zamboanga del Norte and Negros Occidental. This is our own contribution to the economic recovery of our country by helping create new jobs and stimulate the local economies in these areas.”