Alternergy bullish on better results for 2025
Renewable energy producer Alternergy Holdings Corp. expects its 2025 bottom line to “significantly improve” with the activation of more clean power projects.
Maria Carmen Diaz, Alternergy’s chief financial officer, said that four renewable energy facilities, which are expected to generate 225 megawatts (MW) of electricity, will go online within 2025.
“[Our] financial results are expected to significantly improve with the completion of four RE projects this year and eventually contribute steady revenues to Alter and our shareholders,” she said at the recent PSE’s Investor Day event.
The 28-MW Balsik solar plant in Hermosa, Bataan is expected to be operational within the second quarter.
The 4.6-MW Dupinga run-of-river in Nueva Ecija will follow suit by the following quarter.
The commercial operations of the 128-MW Tanay wind project in Tanay in Rizal projects, meanwhile, might start by the fourth quarter.
Likewise, the 64-MW Alabat wind project in Alabat Island, Quezon is targeted to be up and running by the latter part of the year.
Earlier this month, Alternergy reported that its net income fell 31 percent to P109 million from P158 million during its nine-month fiscal period ending March.
Revenues, on the other hand, jumped 43 percent to P261 million from P182 million, fueled by its Palau Solar battery energy storage system project.
The company seeks to grow its portfolio to 500 MW by next year.
In March, it bagged from the Department of Energy a new onshore wind contract in Albay, which would stretch across several towns in the province.
