Bilyonaryo - Business

Ready to seize opportunities in renewable energy: Tomas Alcantara’s ACR gets SEC nod to issue P3B debt notes

December 15, 2022

Bilyonaryo.com

Alsons Consolidated Resources Inc (ACR) obtained the Securities and Exchange Commission’s approval for the registration of commercial papers amounting to P3 billion, allowing it to fund its venture into renewable energy.

An initial P1.135 billion worth of CPs will be issued.

The offering will be issued in tranches over a three-year period.

Proceeds from the offering will be used for the construction of the Siguil hydro plant – ACR’s first foray into renewable energy.

The Siguil hydro plant will supply power to the provinces of Sarangani and South Cotabato, General Santos City, and other areas in the Mindanao grid.

ACR has two more hydro plants in the pipeline: the 22 megawatt Siayan (Sindangan) facility in Zamboanga del Norte, and the 42 MW Bago facility in Negros Occidental, which is the company’s first power venture outside of Mindanao.

Other projects include 105 MW San Ramon Power coal-fired power plant in Zamboanga City and at least seven more run-of-river hydroelectric plants.

Targeted to be completed in 2024, the coal-fired plant will deliver baseload power to Zamboanga City and nearby areas. The plant is estimated to cost a total of P16 billion.

ACR currently has four power plants with an aggregate capacity of 468 MW, serving more than eight million people in 14 cities and 11 provinces in Mindanao.

Related News Tags: Alsons Consolidated Resources Inc (ACR), debt notes, renewable energy, Securities and Exchange Commission, Tomas Alcantara

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