Listed Alsons Consolidated Resources Inc. announced Monday the resignation of Carlos Dominguez from the board effective June 17 as he prepares to take his new post as incoming Finance Secretary.
“We at Alsons Consolidated Resources have long benefitted from Mr. Dominguez’s expertise and vast experience in numerous fields. While his counsel and presence in our board meetings will be sorely missed, we in ACR strongly support his answering the call to serve our country and our people,” Alsons chairman and president Tomas Alcantara said.
Dominguez served as director of Alsons since March 8, 1995.
“We wish Mr. Dominguez all the best as he embarks once again on the path of government service,” Alcantara said.
Alcantara earlier urged the incoming Duterte administration to ensure the growth of Mindanao through adequate power supply.
“Our business, not only power, are really concentrated in Mindanao as our signature says, we’re steadfast in Mindanao. That is our battle cry and we believe Mindanao continues to have a bright future and with an expansion of the economy and the expansion of capacity of power, these can assist in priming Mindanao for bigger growth. If you put in power, this will in fact increase the consumption,” Alcantara said.
He said that with the current power projects lined up in Mindanao, the region was expected to have “comfortable surplus” in the medium term.
“So Mindanao should be free from the debilitating brownouts that we have been so used to and we are forced to live with over this year,” Alcantara said.
He said if all the committed projects were realized in Mindanao, there will be a 30 percent surplus in power capacity by 2018 or 2019.
“But again we are anticipating that demand will further increase so give it another five or six years, there will be another requirement for additional capacity. So we are not worried about the short and medium term about the surplus situation. It’s in fact needed,” he said.
He said Alsons was moving forward with three power projects this year, namely the second unit of Sarangani Energy, 105-MW San Ramon coal plant in Zamboanga and the 15-MW Siguil hydro project.
He said the 210-MW Sarangani Energy project and the 105-MW San Ramon project were estimated to cost a combined $1 billion.
“That is what’s going to be committed for the three projects. And you’re not counting yet the hydro,” he said.
The company is also looking at solar projects in General Santos. Alsons currently operates three diesel power facilities—the 103-MW Mapalad Power Corp. diesel plant in Iligan City, the 55-MW Southern Philippines Power Corp. facility in Alabel, Sarangani, and the 100-MW power plant of Western Mindanao Power Corp. in Zamboanga City.
Alsons-affiliated power facilities will have around 588 MW of generating capacity by 2019, approximately 25 percent of Mindanao’s projected peak power demand for that year.