MANILA - Alsons Consolidated Resources Inc (ACR) on Friday said pipeline projects remain on track, as it "shares the pain" with stakeholders reeling from the coronavirus pandemic.
“Your company’s plants will continue to operate and supply power to our customers even as we continue to try our best to help the power distributors and consumers who have been adversely affected financially by the pandemic,” said Tirso Santillan Jr., executive vice president at ACR.
ACR, which operates power generation plants in Mindanao said it will continue to run its power plants in the southern part of the country to help boost "recovery and revival" for those hit by the pandemic.
Alsons has 4 power facilities with a total capacity of 468 megawatts. In 2019, its 210 MW Sarangani Energy Corp baseload coal-fired power plant began operating in full capacity.
Its power plants provide energy to over 8 million people in 14 cities and 11 provinces in Mindanao, Alsons said in a statement.
The company's various power projects remain on-track to begin commercial operations, among them the 14.5 MW Siguil hydroelectric power plant in Maasim, Sarangani and the 105 MW San Ramon Power, Inc baseload coal-fired power plant in Zamboanga City.
The Siguil hydro plant is the firm's first foray into renewables. It's expected for commercial operations in 2022 and will provide power to Sarangani, General Santos City and key municipalities of South Cotabato.
It also has 7 more run of river hydroelectric plants in various stages of development.
Net earnings attributable to parent reached P55 million in the first quarter this year, from P6 million during the same period in 2019, it said.