ALCANTARA-LED Alsons Consolidated Resources, Inc. (ACR) is on track with the construction of its 105-megawatt (MW) baseload thermal plant in Zamboanga and 14.6-MW run-of-river Siguil hydro facility in Sarangani province.

“We have already selected an EPC (engineering, procurement and construction) contractor and are looking to formalize the contract within the year. We are still targeting to begin commercial operations in 2024,” ACR told BusinessWorld on e-mail over the weekend through its corporate communications department, referring to the thermal plant of San Ramon Power, Inc. (SRPI).

Meanwhile, its Siguil hydro facility is on track for commercial operations within the first half of next year, it added.

Earlier this year, the company said it is targeting to switch on SRPI and Siguil hydro facilities in 2024 and 2022, respectively.

ACR previously said it plans to focus on scaling up its hydro facilities in the coming years, adding that it had seven more run-of-river hydroelectric projects in its pipeline.

Over the weekend, the company said that it is considering other renewable technologies “but there is nothing definitive yet.”

In 2017, it said it was mulling over setting up a separate retail electricity supply business. At present, the firm is “in the process of acquiring the approvals” for its entry into the retail electricity business.

It previously reported a second-quarter attributable net income to its owners of P174.19 million, down by 37.1% amid lower revenues.

ACR and the Alcantaras’ subsidiaries and affiliates in the power business are grouped under the Alsons Power umbrella brand.

On its website, Alsons Power describes itself as Mindanao’s first private sector power generator. It has a portfolio of four power facilities with an aggregate capacity of 468 MW. These power plants serve key urban centers in the south, including Cagayan de Oro, General Santos, Iligan and Zamboanga City. — Angelica Y. Yang