Alternergy Holdings Corporation has created a new subsidiary, ALTER Power RES, Inc., to expand its participation in the retail electricity supply market as demand for renewable energy among commercial customers continues to rise.

The new company, recently approved by the SEC, will apply for a license from the Energy Regulatory Commission to operate as a renewable-only retail electricity supplier. Alternergy President Gerry P. Magbanua said the move positions the company to offer clean energy options to consumers seeking sustainability-focused supply contracts. He noted that the retail electricity market reached about 6,500 megawatts as of August 2025, representing roughly 45% of national peak demand.

Magbanua said the new RES company is tied closely to Alternergy’s long-term growth strategy. “We aim to be a supplier of choice by end-users that place considerable value to sustainability,” he said. He added that the move aims to diversify the retail energy landscape, “With ALTER Power, we hope to create and stimulate greater competition and supplier diversity in the retail electricity market” he stated. 

Alternergy also reported a PHP 22-million net income for the first quarter of fiscal year 2026, which is a 26% increase from last year. The company said the increase came mainly from the steady performance of the Kirahon Solar project, while the Palau solar and battery project delivered lower revenues due to reduced irradiation.

As of September 2025, Alternergy’s consolidated assets rose to PHP 19.4 billion, supported by nearly PHP 4 billion in capital spending for its wind and solar projects. The company maintained a strong PHP 4-billion cash position, with retained earnings at PHP 134 million despite earlier dividend payouts. Consolidated EBITDA reached PHP 89 million, up 17%.

In the project pipeline, the Hermosa Solar Power Project has begun testing and commissioning, while the Dupinga run-of-river hydropower project is nearing completion. Alternergy is also installing its first turbines for the Tanay and Alabat wind farms. CFO Carmen G. Diaz said these projects are expected to significantly strengthen the company’s financials once operational.

Do you think Alternergy’s entry into the RES market will create more competition and cleaner energy options for large electricity consumers?

Follow Power Philippines on Facebook and LinkedIn or join our Viber community for more updates.