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Renewable energy firm Alternergy Holdings Corp. reported a 27 percent increase in its consolidated net income, driven by contributions from its solar and wind energy projects.
In a disclosure to the Philippine Stock Exchange on Wednesday, Sept. 17, Alternergy announced that its consolidated net income grew to ₱165 million by the end of June, up from ₱130 million in the same period last year.
The company’s consolidated assets also expanded significantly, from ₱8.7 billion to ₱17.9 billion in fiscal year (FY) 2025. This growth was attributed to the development of its “Triple Play Portfolio,” which includes wind, solar, and hydropower projects.
Revenues also registered a substantial 31 percent jump, from ₱171 million to ₱360 million.
The strong financial performance was fueled by several key projects, including the 4.6 MW Dupinga run-of-river hydropower project, the 28 MW Solana Balsik solar project, the 128 MW Tanay wind project, and the 64 MW Alabat wind project.
Last month, Alternergy received a crucial approval from the Energy Regulatory Commission (ERC) to connect the Tanay wind project to the Luzon grid. The approval covers the development of a 500-kilovolt (kV) transmission line, a 500-kV switchyard, and a transformer. The ERC also greenlit an interconnection project for the wind facility.
Alternergy President Gerry P. Magbanua expressed confidence that the company's ongoing constructions will further boost its financial performance.
“Together with our operating projects steadily generating revenues, our projects under construction and the new pipeline of projects being put together, we are positively increasing value to our shareholders as one of the fastest growing renewable energy developers in the country,” he said.
Alternergy recently secured five projects in the Department of Energy's (DOE) fourth green energy auction (GEA-4). This preliminary auction focused on ground-mounted, floating solar, onshore wind, and integrated solar with energy storage systems (IRESS).
