THE second 105-megawatt (MW) section of Sarangani Energy Corp.’s (SEC) coal-fired power plant in the municipality of Maasim in Sarangani is on course for completion by the early part of 2019, a top executive of Alsons Consolidated Resources, Inc. (ACR) said.
Alsons Vice President Joseph Nocos told reporters in a media roundtable that construction of the coal facility is about 30 percent complete. He added about 83 percent of the civil works is already done.
Nocos said Alsons has contracted 92 MW of the 105-MW capacity of the second phase of the Sarangani power plant.
He said the first 105-MW section of the SEC plant, which commenced commercial operations in April last year, is supplying half of the power requirement of General Santos City. Once fully operational, it will supply electricity to more areas in Southern and Central Mindanao.
ACR, the first independent power producer in Mindanao, is a publicly listed company of the Alcantara Group with subsidiaries engaged in power generation, property development, industrial estate management, and other investments.
Last week, the Alcantara-led group announced that Global Business Power Corp. (GBP) has completed the acquisition of a 50 percent stake in its unit Alsons Thermal Energy Corp. (ATEC ) for P4.25 billion.
ATEC is the holding company for ACR’s baseload coal-fired power plant assets.
Alsons operates three diesel power facilities: the 103-MW diesel plant of Mapalad Power Corp. in Iligan City; the 55-MW facility of Southern Philippines Power Corp. in Alabel, Sarangani; and the 100-MW power plant of Western Mindanao Power Corp. in Zamboanga City.
Shares of Alsons rose 2.24 percent to end at P1.37 on Friday.