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Manila Bulletin devider Business devider The Stock Market devider Alternergy profit soars on steady Kirahon solar output

Alternergy profit soars on steady Kirahon solar output

Published Nov 13, 2025 03:29 pm
Renewable energy firm Alternergy Holdings Corp. reported a 26 percent rise in net income for the first quarter of fiscal year 2026, driven by the steady performance of its solar power assets.
The company, whose fiscal year runs from July 2025 to June 2026, disclosed to the Philippine Stock Exchange on Thursday, Nov. 13, that profit reached ₱22 million attributed to its 12.5 megawatt-peak (MWp) Kirahon solar farm.
“This growth was achieved despite lower-than-expected operating revenues from the Palau Solar PV and Battery Energy Storage System (BESS), which was impacted by reduced solar irradiation,” the company stated.
As of September, Alternergy’s consolidated assets grew nine percent to ₱19.4 billion. Other investments related to wind and solar project developments amounted to approximately ₱4 million.
Alternergy Chief Finance Officer Carmen Diaz emphasized the firm's strict financial management as it prepares to launch new projects designed to deliver consistent revenue streams.
“ALTER is focused on completing the construction of our projects. We have started the testing and commissioning of our Hermosa Solar Power Project and [it] is expected to be in commercial operations very soon,” Diaz said. “We are almost complete in the construction of our Dupinga Run-of-River Power Project while the Tanay and Alabat Wind Power Projects have started installation of the first wind turbines.”
In a separate development, Alternergy launched a new retail electricity supply (RES) firm, ALTER Power RES, Inc.
ALTER Power has received approval from the Securities and Exchange Commission (SEC), enabling it to provide renewable power to the competitive retail electricity market. The new RES unit will also register with the Energy Regulatory Commission (ERC) for the necessary license.
Gerry P. Magbanua, President of Alternergy and ALTER Power, believes the new RES firm will facilitate expansion, noting the market has grown to approximately 6,500 MW.
“The creation of ALTER Power is part of Alternergy’s overall expansion plans. We aim to be a supplier of choice by end-users that place considerable value [on] sustainability,” he said. “We hope to create and stimulate greater competition and supplier diversity in the retail electricity market.”
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