Alternergy profit jumps 27% in fiscal 2025
Renewable energy developer Alternergy Holdings Corp. saw its consolidated earnings jump 27 percent for the year ended June 30. This, as it implemented more solar and wind projects.
The company on Wednesday said its profit rose to P165 million from P130 million a year earlier.
The figure also marked an increase of more than threefold from 2023’s P38 million. That was when the firm debuted at the Philippine Stock Exchange.
Its earnings before interest, taxes, depreciation and amortization also improved by 29 percent to P399 million from P310 million.
Consolidated assets soared by 105 percent to P17.9 billion from P8.7 billion. This, as the group ramped up the rollout of its renewable projects.
In particular, Alternergy has the 4.6-megawatt (MW) Dupinga run-of-river project and 28-MW Solana Balsik solar park. It also has the 128-MW Tanay and 64-MW Alabat wind projects.
“Our operating assets continue to contribute significant margins. We expect that once the ongoing construction of the four projects is completed by the end of 2025 and early 2026, there will be a substantial boost in Alter’s financial standing,” said Gerry Magbanua, company president.
“Together with our operating projects steadily generating revenues, our projects under construction, and the new pipeline of projects being put together, we are positively increasing value to our shareholders as one of the fastest growing renewable energy developers in the country,” Magbanua said.
The company has a portfolio of different renewable energy technologies. These include wind, run-of-river hydro, solar, commercial rooftop, battery storage and offshore wind.
With such expansion targets over the next two years, Alternergy sees its investments in additional projects to reach up to 500 MW of new generating capacity.
Earlier this year, it bagged from the Department of Energy a new onshore wind contract in Albay. The project would stretch across several municipalities in the province.
Alternergy was seeing at least 150 MW of potential wind capacity for the Albay project.
