Alternergy revenues surge over 80%, fueled by clean power expansion

Renewable energy firm Alternergy Holdings Corp. (ALTER) saw operating revenues jump over 80 percent in the first half of fiscal year 2025, reaching P181 million from P100 million. This growth was largely driven by its Palau Solar Power Project, which began commercial operations in December 2023.

The company’s total assets also surged 44 percent to P12.55 billion, reflecting its ongoing push toward its 500 MW target. 

While steady revenues from the Kirahon Solar Project and CityMall rooftop solar systems helped sustain growth, the Pililla Wind Farm saw a slight decline due to lower wind output. 

Meanwhile, Alternergy’s cash position rose 33 percent to P4.4 billion, boosted by project financing drawdowns for its Tanay Wind Power Project.

Management’s view 

“With a healthy financial position, ALTER made significant equity infusions of P2.1 billion over the reporting period to jumpstart construction of our Tanay Wind, Alabat Wind and Balsik Solar Projects,” said Gerry P. Magbanua, president of Alternergy. 

These are strategic investments that drive ALTER’s growth trajectory and strengthen our position in the renewable energy market,” he added. 

Expansion is on track 

“As we complete four additional projects and bring these to commercial operations, we expect a further boost in ALTER’s revenues by 2026,” Magbanua noted.

“These are the 128 MW [Megawatt] Tanay Wind Power Project, the 64 MW Alabat Wind Power Project, the 28 MWp Balsik Solar Power Project, and the 4.6 MW Dupinga Run-of-River Power Project,” he said.