Alternergy Holdings Corp. is starting to see the payoff from its renewable energy buildout, with revenue and operating earnings jumping in fiscal 2026 as new capacity came online and bigger projects moved closer to commercial operations.
The renewable energy developer said consolidated revenue rose 31 percent to P471.8 million in the year ended June 30, while EBITDA surged 39 percent to P553.8 million.
Gross profit climbed 44 percent to P272.6 million, lifting the margin to 58 percent from 53 percent a year earlier. Net income, however, was little changed at P168.2 million from P165 million.
The results underscore a transitional year for Alternergy, as operating assets began generating more income while substantial capital remained tied up in projects still under construction.
The newly commissioned Balsik Solar Project in Bataan contributed P96.4 million in revenue and P71.2 million in gross profit, or about 20 percent of consolidated revenue.
Its Kirahon and Palau solar projects also remained major contributors, while the Pililla Wind Project benefited from a higher Feed-in-Tariff rate.
Meanwhile, Alternergy’s asset base swelled 38 percent to P24.6 billion from P17.9 billion, reflecting heavy investment in its development pipeline. Non-current assets reached P20.6 billion, with project costs accounting for 93 percent.
The company’s next revenue lift could come from its 128-MW Tanay Wind and 64-MW Alabat Wind projects, which were 90 percent and 85 percent complete, respectively, as of end-June.
Both projects were awarded under the Department of Energy’s second Green Energy Auction and are expected to enter commercial operations within months.
“We are approaching an important inflection point,” President Gerry Magbanua said, as the investments move toward becoming operating assets.
At the parent-company level, revenue jumped 56 percent to P548.9 million, EBITDA rose 65 percent to P517.3 million, and net income more than doubled to P181.4 million.
Alternergy currently operates 119 MW across the Philippines and Palau and expects capacity to reach about 311 MW by end-2026.
Beyond that, four projects awarded under the fourth Green Energy Auction give the company a development pipeline of about 762 MW.
