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Manila Bulletin devider Business devider Trade & Industry devider New solar plants lift Alternergy profit to ₱114 million

New solar plants lift Alternergy profit to ₱114 million

Published May 8, 2026 01:40 pm
Alternergy Holdings Corp. reported a net income of ₱114 million for the third quarter of its 2026 fiscal year, bolstered by the integration of new solar capacity and disciplined approach to operational expenses.
In a disclosure to the Philippine Stock Exchange (PSE) on Friday, May 8, the renewable energy developer said that the commissioning of fresh solar projects during the quarter served as the primary driver for the company’s bottom-line performance.
Alternergy’s fiscal calendar runs from July 1 to June 30.
Operating revenues for the period ending March climbed 16 percent to ₱304 million from ₱261 million in the same quarter a year earlier. The company attributed the surge to the commencement of commercial operations at the 28-megawatt peak Balsik solar power project in January. This new asset provided a significant lift to the company’s revenue trajectory, according to the filing.
The company’s existing portfolio also showed sustained strength. The Kirahon solar power plant in Misamis Oriental remained a cornerstone of the firm’s financial health, contributing ₱137.5 million, or 45 percent of total operating revenues.
Meanwhile, the Palau project, which includes a Battery Energy Storage System (BESS), accounted for ₱131 million, or 43 percent of the revenue share.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 17 percent to ₱342 million due to improved operational efficiency across its asset base.
Total investments jumped 68 percent to ₱19 billion as the company accelerated capital infusions for its flagship wind and solar ventures. The capital expenditure was largely directed toward the development of the Tanay and Alabat wind power projects, alongside the completion of the Balsik solar facility.
Gerry P. Magbanua, Alternergy president, said the company’s solar assets are providing a reliable foundation of steady cash flow.
He noted that the company is now entering a high-growth phase as it moves beyond its solar-heavy results.
Magbanua stated that the company’s “Triple Play Portfolio”—which spans wind, solar, and run-of-river hydro resources—is beginning to materialize in the financial statements.
The five-megawatt Dupinga run-of-river hydro plant commenced operations in March, marking the start of a new revenue stream for the company.
Looking ahead, Alternergy is focusing on the completion of the 128-megawatt Tanay Wind project and the 64-megawatt Alabat Wind project. Both facilities are currently 83 percent complete.
Magbanua expects these assets, which represent a combined capacity of 197 megawatts, to significantly transform the company's revenue profile once they are fully integrated into the grid in the coming months. (Gabriell Christel Galang)

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Alternergy Holdings Corporation renewable energy (RE)
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