MINDANAO-BASED Alsons Consolidated Resources, Inc. saw its attributable net income jump by 57% to P148 million in 2019 after a slight growth in revenues, the Alcantara-led holding firm said on Thursday.
Consolidated income rose by 67% to P939 million. Revenues slightly rose to P6.8 billion.
The revenue and income increases continued to be driven by Sarangani Energy Corp., its 210-megawatt (MW) coal-fired power plant in Maasim, Sarangani province. The power plant serves around six million customers across the island.
With four power plants, Alsons has a total capacity of 468 MW, catering to over eight million people in 14 cities and 11 provinces in Mindanao.
The company is building its first renewable energy power plant, a P4.5-billion 14.5-MW hydroelectric power plant in Sarangani, and a 105-MW coal-fired power plant project under its unit San Ramon Power, Inc. in Zamboanga City. Both projects are expected to become fully operational by 2022 and 2023, respectively. — Adam J. Ang