Alternergy Holdings Corporation reported a 17% increase in their operating revenues for the third quarter of fiscal year 2026 as newly operational solar assets and ongoing renewable energy projects boosted the company’s financial performance.

In a media release dated May 7, Alternergy said operating revenues rose to PHP 304 million from PHP 261 million in the same period last year.

The company said the 28-megawatt peak (MWp) Balsik Solar Power Plant, which started commercial operations in January, contributed around PHP 36 million or 12% of total operating revenues.

Meanwhile, the Kirahon Solar Power Plant in Misamis Oriental accounted for 45% of revenues or around PHP 137.5 million, while the Palau Battery Energy Storage System (BESS) Plant contributed 43% or approximately PHP 131 million.

Alternergy President Gerry P. Magbanua said the company’s operating solar assets continue to provide stable revenue streams while strengthening its renewable energy expertise.

“Alternergy’s solar assets have been generating steady revenue flow over the years and building the company’s technical expertise in solar project development, operations and maintenance,” he said.

The company added that additional renewable energy projects are expected to begin contributing revenues in the coming months.

According to Magbanua, the 5-MW Dupinga run-of-river hydro plant already commenced operations in March, while the 128-MW Tanay Wind and 64-MW Alabat Wind projects are now 83% complete.

“These new assets, with combined capacity of 197 MW, will significantly boost Alternergy’s revenues,” he said.

Alternergy also reported a 17% increase in EBITDA to PHP 342 million from PHP 291 million in the same period last year, while net income rose to PHP 114 million. The company’s total assets grew 32% to PHP 23.6 billion from PHP 17.9 billion, while investments climbed 68% to PHP 19 billion due to capital infusions into its wind and solar projects.

Alternergy said project finance drawdowns for its ongoing developments have reached PHP 11.8 billion to date.

The company currently has renewable energy projects covering wind, solar, run-of-river hydro, battery storage, and offshore wind technologies. Alternergy aims to bring “One Green Gigawatt” into commercial operations by 2030 as part of its long-term expansion strategy.

Do you think the rapid expansion of renewable energy projects will significantly reshape the Philippine power sector in the next few years?

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