Alsons Consolidated Resources (ACR), the publicly listed company of the Mindanao-focused Alcantara Group, reported an 11% increase in its net income for 2024 – rising to Php2.53 billion from Php2.28 billion in 2023. This growth was primarily driven by rising electricity demand, favorable trading opportunities in the Wholesale Electricity Spot Market, and the successful launch of its Retail Electricity Supply (RES) unit. Furthermore, the company’s performance last year reflects the value of&nbsp;&nbsp;ACR’s strategic initiatives and investments and its continued commitment to expanding its presence in the energy sector while capitalizing on market dynamics.

“In the first quarter of 2024, we faced disruptions caused by the 2023 Mindanao earthquake. Despite this challenge, we demonstrated resilience and achieved a strong recovery, closing the year with solid financial performance,” said ACR Deputy Chief Financial Officer Philip Edward B. Sagun.

Sagun attributed ACR's financial growth to the continued performance of the 237-Megawatt Sarangani Energy Corporation, which remains one of the most cost-efficient baseload power sources in Mindanao. Additionally, the implementation of the ancillary services agreements for Western Mindanao Power Corporation in Zamboanga and Mapalad Power Corporation in Iligan played a vital role in bolstering the company’s earnings.

“We are confident that our growth prospects will continue, fueled by the anticipated increase in power demand and our strategic focus on expanding our RES portfolio," Sagun added.

In 2024, ACR achieved key milestones, including the completion and operational launch of its first renewable power plant—the 14.5-MW Siguil Hydropower Plant in Sarangani. The company's new RES unit has also gained momentum, securing major clients such as Holcim Philippines and Metro Retail Stores Group, Inc., with a combined contracted capacity of 43 MW.

“We remain steadfast in our commitment to expanding our renewable energy portfolio, with several projects currently under development. This year, we are targeting to launch our first large-scale solar power project in Mindanao, marking a significant milestone in our sustainability strategy,” Sagun concluded.

Alsons Consolidated Resources (ACR), the publicly listed company of the Mindanao-focused Alcantara Group, reported an 11% increase in its net income for 2024 – rising to Php2.53 billion from Php2.28 billion in 2023. Alsons Consolidated Resources (ACR), the publicly listed company of the Mindanao-focused Alcantara Group, reported an 11% increase in its net income for 2024 – rising to Php2.53 billion from Php2.28 billion in 2023. This growth was primarily driven by rising electricity demand, favorable trading opportunities in the Wholesale Electricity Spot Market, and the successful launch of its Retail Electricity Supply (RES) unit. Furthermore, the company’s performance last year reflects the value of&nbsp;&nbsp;ACR’s strategic initiatives and investments and its continued commitment to expanding its presence in the energy sector while capitalizing on market dynamics.“In the first quarter of 2024, we faced disruptions caused by the 2023 Mindanao earthquake. Despite this challenge, we demonstrated resilience and achieved a strong recovery, closing the year with solid financial performance,” said ACR Deputy Chief Financial Officer Philip Edward B. Sagun.Sagun attributed ACR's financial growth to the continued performance of the 237-Megawatt Sarangani Energy Corporation, which remains one of the most cost-efficient baseload power sources in Mindanao. Additionally, the implementation of the ancillary services agreements for Western Mindanao Power Corporation in Zamboanga and Mapalad Power Corporation in Iligan played a vital role in bolstering the company’s earnings.“We are confident that our growth prospects will continue, fueled by the anticipated increase in power demand and our strategic focus on expanding our RES portfolio," Sagun added.In 2024, ACR achieved key milestones, including the completion and operational launch of its first renewable power plant—the 14.5-MW Siguil Hydropower Plant in Sarangani. The company's new RES unit has also gained momentum, securing major clients such as Holcim Philippines and Metro Retail Stores Group, Inc., with a combined contracted capacity of 43 MW.“We remain steadfast in our commitment to expanding our renewable energy portfolio, with several projects currently under development. This year, we are targeting to launch our first large-scale solar power project in Mindanao, marking a significant milestone in our sustainability strategy,” Sagun concluded.

Electricity / Gas / Resources / Energy

Financial results announcement

Listed companies

Local companies

Alsons Consolidated Resources (ACR), the publicly listed company of the Mindanao-focused Alcantara Group, reported an 11% increase in its net income for 2024 – rising to Php2.53 billion from Php2.28 billion in 2023. 

ACR Net Income Rises 11% in 2024  

Sarangani Energy Corporation (SEC), part of the <a href="http://www.alsonspower.com">Alsons Power Group</a>, has been recognized for its outstanding commitment to workplace safety and health at the 13th Gawad Kaligtasan at Kalusugan (GKK). Selected from over 100 nominees, SEC’s recognition reflects its unwavering dedication to protecting its people, partners, and communities—fully embodying Alsons Power’s brand promise: “We Power with Care.”

DOLE XII Regional Director Joel Gonzales (far left) and OIC-Training and Public Information Division Chief Jose Soriano (far right) present the plaque and cash prize to Sarangani Energy's Assistant HR Manager Mary Shower Megrenio, recognizing the power plant's safety and emergency preparedness at the 13th Gawad Kaligtasan at Kalusugan (GKK) in General Santos City.

“This recognition is a testament to <a href="https://www.facebook.com/alsonspower">Alsons Power</a>’s commitment to safety and sustainable operations. Our priority has always been to provide reliable and affordable power while ensuring the well-being of our people and communities,” said Jose Luis R. Angco, Alsons Power Vice President and Business Manager for Plant Operations.

As a 237-megawatt baseload plant, Sarangani Energy has built comprehensive safety measures into every aspect of its operations. These include risk assessments, emergency drills, and continuous training to keep employees and contractors well-prepared for any situation. SEC’s commitment extends beyond the plant, working closely with local government units and emergency responders to protect the broader community in Barangay Kamanga, Maasim, Sarangani Province.

This year marks the first time that Alsons Power’s Sarangani Energy participated in the GKK, and DOLE’s recognition reflects the company’s proactive approach to safeguarding lives and fostering a safe work environment. This achievement reinforces Alsons Power’s reputation as a responsible employer and sets a positive example for other companies and organizations in the region.

The GKK award is a result of a rigorous selection process that included interviews, on-site assessments, and thorough evaluations by experts from the DOLE, Occupational Safety and Health Center (OSHC), Employees Compensation Commission, Social Security System (SSS), and the Regional Tripartite Industrial Peace Council (RTIPC),&nbsp;ensuring that only the highest standards in occupational safety were recognized.

Sarangani Energy Corporation (SEC), part of the <a href="http://www.alsonspower.com">Alsons Power Group</a>, has been recognized for its outstanding commitment to workplace safety and health at the 13th Gawad Kaligtasan at Kalusugan (GKK). Selected from over 100 nominees, SEC’s recognition reflects its unwavering dedication to protecting its people, partners, and communities—fully embodying Alsons Power’s brand promise: “We Power with Care.”<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/af231700-5629-4ce3-0521-21fb45b6ad00/public" alt="Image" />DOLE XII Regional Director Joel Gonzales (far left) and OIC-Training and Public Information Division Chief Jose Soriano (far right) present the plaque and cash prize to Sarangani Energy's Assistant HR Manager Mary Shower Megrenio, recognizing the power plant's safety and emergency preparedness at the 13th Gawad Kaligtasan at Kalusugan (GKK) in General Santos City.“This recognition is a testament to <a href="https://www.facebook.com/alsonspower">Alsons Power</a>’s commitment to safety and sustainable operations. Our priority has always been to provide reliable and affordable power while ensuring the well-being of our people and communities,” said Jose Luis R. Angco, Alsons Power Vice President and Business Manager for Plant Operations.As a 237-megawatt baseload plant, Sarangani Energy has built comprehensive safety measures into every aspect of its operations. These include risk assessments, emergency drills, and continuous training to keep employees and contractors well-prepared for any situation. SEC’s commitment extends beyond the plant, working closely with local government units and emergency responders to protect the broader community in Barangay Kamanga, Maasim, Sarangani Province.This year marks the first time that Alsons Power’s Sarangani Energy participated in the GKK, and DOLE’s recognition reflects the company’s proactive approach to safeguarding lives and fostering a safe work environment. This achievement reinforces Alsons Power’s reputation as a responsible employer and sets a positive example for other companies and organizations in the region.The GKK award is a result of a rigorous selection process that included interviews, on-site assessments, and thorough evaluations by experts from the DOLE, Occupational Safety and Health Center (OSHC), Employees Compensation Commission, Social Security System (SSS), and the Regional Tripartite Industrial Peace Council (RTIPC),&nbsp;ensuring that only the highest standards in occupational safety were recognized.

Advertising / Promotion / PR

Environment / SGDs / Recycling

Alsons Power’s Sarangani Energy Corporation Wins Safety Excellence Award at DOLE’s 13th Gawad Kaligtasan at Kalusugan

GENERAL SANTOS CITY – “Alsons Power is helping unlock the vast potential of Mindanao, fueling communities, and driving sustainable economic growth while prioritizing environmental stewardship,” said Antonio Miguel “Anton” Alcantara, CEO of <a href="http://www.alsonspower.com">Alsons Power</a>, at the 33rd Mindanao Business Conference (MinBizCon). The event, held at the KCC Convention Center in General Santos City, brought together key leaders to discuss the future of the region’s economy.

As the power business unit of the Alcantara Group—a Mindanao-focused enterprise with significant investments in energy, agriculture, and real estate—Alsons Power plays a crucial role in supporting the region’s rapid development.

Alcantara shared that the Department of Budget and Management is targeting an economic growth rate of 6.5% to 7.5% by 2025, which is expected to drive an even greater demand for energy.

Data from the Independent Electricity Market Operator of the Philippines (IEMOP) and the Department of Energy show that the Philippines reached a peak energy demand of 17,331 megawatts in 2023, which surged to over 19,000 megawatts by the April 2024. Mindanao mirrored this trend, reaching a peak demand of 2,642 megawatts in April this year, an increase from the 2,323 megawatts recorded in the previous year. These rising figures highlight the nation's growing power consumption, driven by heightened economic activity and rising temperatures.

"Our population is rapidly growing, and every household increases power consumption, upgrading the use of electricity. That's about 100–125 megawatts in Mindanao every year," said Assistant Secretary Romeo M. Montenegro, Deputy Executive Director of the Mindanao Development Authority (MinDA), addressing delegates at the Zamboanga Peninsula (ZamPen) Power Summit last August.

"After 4-5 years, a shortage will happen again, which is why proper timing, coordination in terms of policy and investments, and attracting power investment sectors are a must in Mindanao to avoid the rotating brownouts that happened in the past," Montenegro added.

To help meet this surging power demand, Alcantara outlined Alsons Power’s strategy to expand and diversify its energy portfolio. “We’re committed to developing new power plants with a strong focus on renewable energy while optimizing our existing conventional power assets,” he said.

Currently, <a href="http://www.alsonspower.com">Alsons Power</a> has a capacity of over 460 megawatts, serving more than eight million people across Mindanao.

“Alsons Power is focused on building our renewable energy portfolio with various hydro and solar projects at different stages of development and implementation. These projects aim to contribute to the country’s goal of reaching a 35% renewable energy share by 2030 and 50% by 2040,” Alcantara said.

Recently, Alsons Power completed its first foray into the renewable energy landscape with the 14.5-megawatt run-of-river Siguil Hydro Power Plant in Maasim, Sarangani Province. This plant has an estimated annual output of around 95,000 MWh, capable of powering over 40,000 households. Siguil Hydro is the fifth renewable energy project to enter Mindanao's Wholesale Electricity Spot Market (WESM).

Alsons Power is also advancing other renewable projects, including the Sindangan Zambo-River Power Plant with a potential capacity of 8.8 megawatts for the run-of-river hydropower plant and 29 megawatts for the solar power plant.

More than three decades after helping address the Mindanao power crisis and the region's growing energy demands, Alsons Power remains committed to delivering safe, reliable, and affordable energy to the Southern Philippines and beyond. Recently, the Alcantara-led power business unit secured its first retail electricity supply agreement with Holcim Philippines, under which it will supply 80% of the energy needs for Holcim’s facilities in Davao and Lugait, Misamis Oriental.

“Reliable and affordable electricity is a key driver in attracting investments to a region. Our power facilities in Maasim, Sarangani, play a critical role in providing the stable energy needed to support and attract investments, not just within the province but across Mindanao,” emphasized Alcantara.

Alcantara also highlighted the company’s role in attracting large-scale industrial projects, including the multi-billion-dollar Panhua Integrated Steel Plant, a flagship venture by China’s Panhua Group, slated for completion by 2026 in the Kamanga Agro-Industrial Ecozone (KAIEZ) in Maasim, Sarangani.

“As we diversify our power sources, we remain committed to driving Mindanao’s growth, fostering economic progress, and safeguarding our natural resources,” Alcantara concluded.

GENERAL SANTOS CITY – “Alsons Power is helping unlock the vast potential of Mindanao, fueling communities, and driving sustainable economic growth while prioritizing environmental stewardship,” said Antonio Miguel “Anton” Alcantara, CEO of <a href="http://www.alsonspower.com">Alsons Power</a>, at the 33rd Mindanao Business Conference (MinBizCon). The event, held at the KCC Convention Center in General Santos City, brought together key leaders to discuss the future of the region’s economy.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/b2639bf6-06df-469e-b115-638c2589ae00/public" alt="Alsons Power Group CEO, Antonio Miguel B. Alcantara, underscored the importance of reliable and affordable energy at the recently concluded Mindanao Business Conference. He emphasized the need for a balanced portfolio of power resources to attract investments and drive sustainable progress in Mindanao." />As the power business unit of the Alcantara Group—a Mindanao-focused enterprise with significant investments in energy, agriculture, and real estate—Alsons Power plays a crucial role in supporting the region’s rapid development.Alcantara shared that the Department of Budget and Management is targeting an economic growth rate of 6.5% to 7.5% by 2025, which is expected to drive an even greater demand for energy.Data from the Independent Electricity Market Operator of the Philippines (IEMOP) and the Department of Energy show that the Philippines reached a peak energy demand of 17,331 megawatts in 2023, which surged to over 19,000 megawatts by the April 2024. Mindanao mirrored this trend, reaching a peak demand of 2,642 megawatts in April this year, an increase from the 2,323 megawatts recorded in the previous year. These rising figures highlight the nation's growing power consumption, driven by heightened economic activity and rising temperatures."Our population is rapidly growing, and every household increases power consumption, upgrading the use of electricity. That's about 100–125 megawatts in Mindanao every year," said Assistant Secretary Romeo M. Montenegro, Deputy Executive Director of the Mindanao Development Authority (MinDA), addressing delegates at the Zamboanga Peninsula (ZamPen) Power Summit last August."After 4-5 years, a shortage will happen again, which is why proper timing, coordination in terms of policy and investments, and attracting power investment sectors are a must in Mindanao to avoid the rotating brownouts that happened in the past," Montenegro added.To help meet this surging power demand, Alcantara outlined Alsons Power’s strategy to expand and diversify its energy portfolio. “We’re committed to developing new power plants with a strong focus on renewable energy while optimizing our existing conventional power assets,” he said.Currently, <a href="http://www.alsonspower.com">Alsons Power</a> has a capacity of over 460 megawatts, serving more than eight million people across Mindanao.“Alsons Power is focused on building our renewable energy portfolio with various hydro and solar projects at different stages of development and implementation. These projects aim to contribute to the country’s goal of reaching a 35% renewable energy share by 2030 and 50% by 2040,” Alcantara said.Recently, Alsons Power completed its first foray into the renewable energy landscape with the 14.5-megawatt run-of-river Siguil Hydro Power Plant in Maasim, Sarangani Province. This plant has an estimated annual output of around 95,000 MWh, capable of powering over 40,000 households. Siguil Hydro is the fifth renewable energy project to enter Mindanao's Wholesale Electricity Spot Market (WESM).Alsons Power is also advancing other renewable projects, including the Sindangan Zambo-River Power Plant with a potential capacity of 8.8 megawatts for the run-of-river hydropower plant and 29 megawatts for the solar power plant.More than three decades after helping address the Mindanao power crisis and the region's growing energy demands, Alsons Power remains committed to delivering safe, reliable, and affordable energy to the Southern Philippines and beyond. Recently, the Alcantara-led power business unit secured its first retail electricity supply agreement with Holcim Philippines, under which it will supply 80% of the energy needs for Holcim’s facilities in Davao and Lugait, Misamis Oriental.“Reliable and affordable electricity is a key driver in attracting investments to a region. Our power facilities in Maasim, Sarangani, play a critical role in providing the stable energy needed to support and attract investments, not just within the province but across Mindanao,” emphasized Alcantara.Alcantara also highlighted the company’s role in attracting large-scale industrial projects, including the multi-billion-dollar Panhua Integrated Steel Plant, a flagship venture by China’s Panhua Group, slated for completion by 2026 in the Kamanga Agro-Industrial Ecozone (KAIEZ) in Maasim, Sarangani.“As we diversify our power sources, we remain committed to driving Mindanao’s growth, fostering economic progress, and safeguarding our natural resources,” Alcantara concluded.