Revenues were steady at P5.8 billion, just shy of last year’s P5.9 billion, with Sarangani Energy Corp. (SEC) and the new Siguil Hydro Power Corp. (SHPC) anchoring output. SEC, ACR’s 210-MW baseload coal plant, remains the company’s biggest revenue contributor, serving power co-ops and industries in the region under long-term contracts.
“Despite the challenging market and the economic impact of geo-political events, we are pleased to report a stable, profitable and strong first half performance. This achievement is a testament to the dedication and resilience of our entire team, as well as the trust and support of our stakeholders,” said ACR chief finance officer Roberto Joaquin Ramos said in a statement.
Net income attributable to the parent company jumped 43 percent to P517 million, aided by improved trading at the Wholesale Electricity Spot Market and SHPC’s June entry. The 14.5-MW run-of-river plant now supplies the grid as a must-run unit, providing a renewable edge to ACR’s portfolio.
Siguil Hydro is the first of several renewables in the pipeline, including solar and hydro projects under Alsons Renewable Energy Corp. The company plans to launch its first large-scale solar project in Mindanao this year.
“Looking ahead, we remain confident that our momentum, combined with operational discipline and our values, will not only carry us through the rest of the year but in the periods to come,” Ramos added.
—Edited by Miguel R. Camus
