Alcantara family’s Alsons powers ahead with 73% surge in net earnings for Q1

Alsons Consolidated Resources Inc. of the Alcantara family reported a 73 percent jump in its first quarter earnings to P155.8 million.

The company’s strong performance was driven by a 24 percent rise in first-quarter revenues, reaching ₱3.31 billion. The company’s power plants, including the 210 MW Sarangani Energy Corporation baseload power plant in Sarangani Province and the 100 MW Western Mindanao Power Corporation (WMPC) diesel plant in Zamboanga City, played a vital role in generating revenue and income during this period.

Philip Edward B. Sagun, Alsons deputy chief financial officer, highlighted the steady power demand from key markets in Mindanao as a contributing factor to the company’s success. The Sarangani power plant supplies electricity to various areas in Mindanao, while the WMPC power plant serves Zamboanga City and provides essential ancillary services to the National Grid Corporation of the Philippines.

Looking ahead, Alsons is focused on expanding its renewable energy capacity. The company has several hydroelectric power projects in the pipeline, including the 14.5 MW Siguil hydropower plant in Maasim, Sarangani, which is set to begin operations by the end of the year.

Alsons is also developing a hydro and solar power project in Zamboanga del Norte and a hydropower project in the Bago River in Negros Occidental.

As the first private-sector power generator in Mindanao, Alsons currently operates four power facilities with a combined capacity of 468 MW. These facilities serve over eight million people in 14 cities and 11 provinces, making a significant contribution to the region’s power supply.

Semirara unit fined over reporting lapses

Consunji-led Semirara Mining and Power Corp. (SMPC), has been fined P400,000 by the Philippine electric power regulator for non-compliance with reportorial requirements related to unplanned outages at its coal-fired power plants in 2019.