Alternergy Holdings Corporation Reports Q2 FY2026 Profit Growth Driven By Solar Expansion

Alternergy Holdings Corporation reported a net income of $1.45 million (PHP 84 million) for the second quarter of its fiscal year 2026, supported mainly by stronger performance from its solar power projects. The company said its earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to $4.46 million, compared to $3.06 million in the same period last year. Total operating revenue increased by 4% to $3.25 million.

A key driver of this growth was the 28 MWp Balsik Solar Power Plant. During its commissioning phase, the plant generated around $224,758 in test revenues, contributing about 7% of total operating revenue for the quarter. After completing its testing stage, the Balsik facility officially started commercial operations in January 2026, adding stable income to the company’s portfolio.

Other projects delivered mixed results during the quarter. The 12.5 MW Kirahon Solar Power Plant, along with the company’s projects in Palau and its partnership with CityMall, continued to perform steadily. However, the 54 MW Pililla Wind Farm reported lower revenues due to weaker wind resources during the period, which affected overall generation.

Despite this, the company’s financial position remains strong. Total assets were valued at $388.99 million, while cash reserves stood at $86.45 million. Recent capital infusions and project finance drawdowns of more than $300 million have strengthened its liquidity. These funds are being used to support the ongoing construction of major renewable energy projects, including the Alabat and Tanay wind farms.

Looking ahead, 2026 is expected to be a significant year for the company. Four major projects with a combined capacity of 225 MW, including the Dupinga hydro and Alabat wind projects, are scheduled for completion. These projects form part of the company’s long-term strategy to reach 500 MW of installed capacity by the end of 2026 and one gigawatt by 2030.

The company also declared a dividend payment of $2.04 million to the Government Service Insurance System. With additional Department of Energy approvals already secured for future wind and solar-battery projects planned for 2028, the company is positioning itself for sustained growth in the Philippine renewable energy market.