Alsons Consolidated Resources (ACR), the publicly-listed company of the Alcantara Group, has raised P1.6 billion from the sale of commercial papers, with the new funds to boost its power expansion initiatives.
The securities were listed with the Philippine Dealing and Exchange Corp. (PDEx) and are part of ACR’s three-billion peso Commercial Paper (CP) Program. A commercial paper is a short-term, unsecured debt instrument issued by corporations to raise additional capital for short-term capital needs or expenses.
ACR Deputy Chief Financial Officer Philip Edward B. Sagun said in a recent statement that the fundraising efforts will bolster the company’s target of expanding its energy portfolio, particularly in the Mindanao region.
(Also read: DOE Mindanao in need of more energy sources for energy security)
“ACR is committed to helping address the country’s growing demand for reliable and affordable power. This Commercial Paper program provides us with an efficient and cost-effective way to support our working capital requirements, enabling us to fulfill our mission of unlocking potential and empowering progress in Mindanao and beyond,” Sagun said.
Through its energy company, Alsons Power Group, ACR has been scaling up its renewable energy (RE) portfolio with several hydro and solar power projects in the pipeline.
Last year, Alsons Power Group announced the commercial operations of its first RE project, the 14.5-megawatt (MW) Siguil Hydro Power Plant in Maasim, Sarangani. Expected to generate 95,000 megawatt-hours annually, the run-of-river hydropower project will power approximately 41,000 households.
(Also read: The Most Significant Energy Projects in Mindanao in 2024: A Wrap-up)
Its 37.8-MW Sindangan-Zambo River Power Plant and the 53-MW Bago Hydro Power Plant are both slated for construction this 2025. To expand its solar energy portfolio, the company plans to launch its first large-scale solar power plant in the first half of this year.
“We are rapidly advancing our solar power initiatives and remain committed to strengthening our project pipeline,” Antonio Miguel B. Alcantara, CEO of Alsons Power Group, said during the group’s First Quarter Townhall Meeting.
According to its website, the Alsons Power Group’s four power facilities have an aggregate capacity of 468 MW. These facilities serve over eight million people living in 14 cities and 11 provinces in Mindanao.
Sources:
https://business.inquirer.net/505983/alsons-lists-p1-6-b-commercial-papers-to-fund-growth
https://alsonspower.com/acr-lists-first-tranche-of-p3-billion-commercial-papers-with-pdex/
https://tribune.net.ph/2025/02/10/acr-secures-funding-for-power-expansion
https://alsonspower.com/alsons-power-energizing-mindanaos-path-to-growth-and-development/
https://alsonspower.com/alsons-power-gears-up-for-a-bigger-2025/
https://alsonspower.com/who-we-are-alson-power-group/
