Sarangani Energy Corp. gives contractor go signal to proceed 1st phase of 200 MW power plant. PDF Print E-mail
Sunday, 15 July 2012 14:34

The board of directors and shareholders of Sarangani Energy Corporation (SEC) recently approved an increase in the company’s authorized capital stock to P4.25 billion from an initial capitalization of P5 million. SEC is a wholly- owned subsidiary of Alsons Consolidated Resources, Inc. (ACR),  the publicly-listed holding company of the Alcantara Group.

The capital stock will be divided into 4.25 billion shares with a par value of one peso per share. The increase in capital stock will cover equity in the development, construction and operation of the SEC Power Plant in Maasim, Sarangani that will have the capacity to produce up to 200 Mega Watts (MW) of electrical power for the Province of Sarangani, General Santos City, and other portions of Southern and South-Central Mindanao. The SEC power plant is intended to help provide a long-term solution to the power shortage in Mindanao.    

In a related development, Daelim Industrial Co. Ltd, of South Korea, the SEC power plant’s engineering, procurement, and construction (EPC) contactor, has been given clearance to proceed with work on the plant’s first phase. Executives and engineers from the Daelim SEC plant project team recently flew in from Daelim’s Seoul offices to the plant site in barangay Kamanga, Maasim, Sarangani to conduct an ocular inspection of the site signaling the start of detailed design and engineering works that will run through the 4th quarter of 2012. Maasim    Municipal Mayor Art Lawa met with the Daelim team at the project site.  Mayor Lawa welcomed the project team and expressed his optimism that the SEC power plant would put an end to power shortages in Sarangani and the rest of Southern Mindanao.  Daelim Industrial Co. Ltd is one of the biggest construction and engineering firms in South Korea with projects in over 24 countries. It is the flagship of the Daelim Group one of the leading Korean business conglomerates. The first phase of the SEC Power Plant is expected to commence operations in early 2015.

Aside from the SEC Power plant the Alcantara Group also controls and operates the 100 MW Western Mindanao Power Corporation (WMPC) bunker-fired power plant in Sangali, Zamboanga City and the Southern Philippines Power Corporation (SPPC) 55 MW bunker-fired power plant in Alabel, Sarangani Province. The group is  also developing the 100 MW San Ramon Power Inc., (SRPI) plant in San Ramon, Talisayan, Zamboanga City which will have the capacity to generate up to 100 MW of electricity for Zamboanga City and nearby areas. The SRPI plant is expected to be operational by 2016.  In the 1st quarter of 2012, the Alcantara Group through its subsidiary Mapalad Power Corporation (MPC) was granted the right to reacquire the 102 MW Iligan Diesel Plant from the City of Iligan. The transfer of ownership is currently undergoing procedural review by the Commission on Audit (COA). Rehabilitation and operation of the Iligan plant will commence once the transfer is finalized.

Apart from power plant development and power generation management, the Alcantara Group is also engaged in property development, aquaculture, agribusiness, and services. The group has been an active player in the economic development of Mindanao and the rest of the Philippines for over 50 years.