Green energy exponent Alternergy Holdings Corp. posted higher third-quarter earnings and a sharp increase in assets as the renewable energy developer accelerated construction of major wind and hydro projects expected to drive its next growth phase.
The listed renewable power company reported a 17 percent increase in operating revenues for the third quarter of its fiscal year 2026 ended March 31, rising to P304 million from P261 million a year earlier, boosted by the contribution of its newly operational 28-megawatt peak Balsik Solar Power Plant.
The Balsik facility, which began commercial operations in January, contributed P36 million or 12 percent of total revenues during the period, signaling the growing role of solar assets in Alternergy’s expanding portfolio.
Net income rose to P114 million, while earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 17 percent to P342 million, supported by stable operating performance and cost efficiency measures.
Alternergy’s total assets expanded 32 percent to P23.6 billion from P17.9 billion, reflecting aggressive investments in ongoing renewable energy developments.
Its Kirahon Solar Power Plant in Misamis Oriental remained the largest revenue contributor, accounting for 45 percent of operating revenues or P137.5 million, while the Palau plus Battery Energy Storage System plant contributed P131 million.
“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,” said Alternergy president Gerry P. Magbanua.
The company is positioning for stronger revenue growth as several projects near completion. Alternergy said the 5-megawatt Dupinga run-of-river hydro plant began operations in March, while the 128-megawatt Tanay Wind and 64-megawatt Alabat Wind projects are already 83 percent complete.
Combined, the new facilities are expected to add 197 megawatts of capacity, significantly expanding Alternergy’s recurring revenue base as demand for renewable energy continues to rise.
The company’s cash position stood at P4 billion, while investments surged 68 percent to P19 billion due mainly to capital spending on wind and solar developments.
