Alsons Consolidated Plans Hydroelectric, Solar-Power Projects

Jun 25, 2014 12:47 am ET

June 25 (Bloomberg) -- Alsons Consolidated Resources Inc. plans to build at least 180 megawatts of hydro- and solar-power capacity as the oldest electricity generator on the Philippine island of Mindanao adds renewables to its energy sources.

The company is targeting around 160 megawatts of hydroelectric plants to be spread out mostly across Mindanao, Alsons Vice President Joseph Nocos said in an e-mail response to questions. It plans to build a 20-megawatt solar power plant in General Santos City, also in the south, which may start operating by 2016, Alsons said in a stock exchange filing today.

Alsons plans to more than double capacity to 573 megawatts by 2019 from 258 megawatts this year, Chief Financial Officer Luis Ymson said on June 10.

Shares of the company rose 3.2 percent as of the noon break in Manila, poised for the biggest gain since June 11. The stock has risen 59 percent this year.