Alcantara holding firm to invest in Siguil hydro power facility
Alsons Consolidated Resources Inc. is infusing as much as P1 billion into the 15.1 megawatt Siguil hydro power plant located in Maasim, Sarangani province.
Construction of the P3.7 billion run-of-river hydroelectric power project will start within the year upon completion of all necessary permitting and formalities.
The plant is expected to begin commercial operations within the first half of 2020 and will provide power to Sarangani province, General Santos city and key municipalities of South Cotabato.
ACR also approved a performance undertaking to be issued to its long-time partner Toyota Tsusho Corp. in support of the ale to the Japanese government of half of the Siguil hydro project’s carbon credits. This was done under the auspices of the Japanese government’s joint credit mechanism for the reduction of worldwide carbon emissions.
Under the JCM, projects using advanced low carbon technology such as the Siguil hydro project are implemented and the resulting greenhouse gas emission reductions may be credited to the project proponents of both participating countries, thus allowing for Siguil Hydro to receive additional revenues through the sale of carbon credits.