TOYOTA Tsusho Corp., the trading unit of Toyota Group, is keen on taking part in more renewable energy (RE) projects of Alsons Consolidated Resources, Inc., a top ACR executive said.
Alsons Vice President Joseph Nocos told reporters on Tuesday that Toyota Tsusho is eyeing certain hydro projects of Alsons, including the 15-megawatt Siguil River hydro facility in the municipality of Maasim in the province of Sarangani.
Nocos added Toyota normally looks at undertakings on a project by project basis, specifically the feasibility of each project and whether or not the projects are in line with their investment preferences.
He also said Toyota’s trading arm has investments in other countries especially in RE and natural gas, with a number of existing projects in the United States, Europe, and Japan.
Toyota Tsusho owns 50 percent of Tokyo-based Eurus Energy, its joint venture with Tokyo Electric Power Co. (TEPCO).
Toyota Tsusho is also Alsons’ partner in its 210-MW Sarangani coal project, among others.
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.
The company operates three diesel power facilities: the 103MW diesel plant of Mapalad Power Corp. in Iligan City; the 55MW facility of Southern Philippines Power Corp. in Alabel, Sarangani; and the 100MW power plant of Western Mindanao Power Corp. in Zamboanga City.
In September, ACR signed a performance undertaking with its long-time partner Toyota Tsusho to sell to the Japanese government half of the Siguil hydro project’s carbon credits.
Shares of Alsons dropped 1.52 percent to close at P1.30 on Tuesday.