Alsons Consolidated Resources Inc., the publicly-listed company of the Alcantara Group, unveiled a capital expenditure budget of P6 billion for 2023 to 2026 to finance most of its renewable energy projects in the pipeline.
“Estimated capex for the group is around P6 billion. As our previous strategy of funding these projects, we shall be funding them through a combination of project finance as well as internally generated funds,” Alsons vice president and group chief finance officer Alexander Benhur Simon said during the annual stockholders’ meeting.
The three-year capex will be spent mostly for the company’s RE projects in the pipeline, particularly the Sindangan and Bago hydro projects.
Alsons deputy chief executive Antonio Alcantara said among the projects in the lineup are the 21-megawatt hydro project in Sindangan River in Zamboanga del Norte and the 42-MW hydro project along Bago River in Negros occidental. “Both are at advanced stages of project development. Those two projects form part of eight potential hydro projects we are developing,” Alcantara said.