Alsons Power keen on IPO

MANILA, Philippines – The power unit of Alsons Consolidated Resources Inc. is contemplating on listing its stocks on the local bourse as soon as all its new power plants start running, a company official said.

It is a likely scenario that Alsons Power Group would hold an initial public offering (IPO) in the medium term, Alsons corporate planning officer Antonio Miguel Alcantara said.

“Maybe in the next few years, once we have all these coal plants COD’ed, meaning they’re all running already and they already have earnings,” he said.

“When doing IPO, the question that comes into play is construction... so you can get better valuations,” Alcantara said.

Next year, the company will work on two coal-fired power plants—the 210-megawatt (MW) Section 2 of the Sarangani Energy Corp. (SEC) plant and the 105-MW San Ramon Power Inc. (SRPI).

Earlier, Alsons executive vice president and COO Tirso Santillan said the two projects are estimated to cost around $600 million, of which approximately $180 million will be funded by equity until 2020.

Section 2 of SEC is targeted for completion in 2019 while SRPI will be finished by 2020.

Apart from the coal-fired power plants in the pipeline, Alsons Power will also start working on two renewable energy (RE) projects, the 15-MW Siguil run-of-river power project and a 20-MW solar farm both in Sarangani.