Alternergy’s net income down 31% in first nine months

Latest figure still exceeded the target by 23%.

Alternergy Holdings Corporation has reported a net income of $2m (PHP 109m) in the first nine months of its fiscal period ending March 2025, down 31% from last year.

In a bourse filing, the company said its latest income data included a one-time gain from full acquisition of the Tablas Straits Offshore Wind Projects. Despite the decline, this exceeded the target by 23% as more operating assets brought in a steady revenue flow.

Alternergy also reported a 43% increase in its revenue to reach $4.68m (PHP 261m).

Operations of the Palau Solar battery storage system project bolstered Alternergy ‘s core revenues for the nine months ending March 2025 as dollar-denominated revenues from the Palau Project contributed to group results.

Alternergy expects these financial results to improve as it completes the construction of four renewable projects. The Dupinga Run-of-River Mini Hydro Power Project in Nueva Ecija is 83% complete, whilst the Balsik Solar Power Project in Hermosa Bataan is more than 50% complete, with completion expected within the first half of 2025.

Meanwhile, construction of the 128 MW Tanay and 64 MW Alabat Wind Power Projects continues with the delivery of the first shipment of wind turbine generators in April. At the same time, construction of the substations for the dispatch of the capacities from the two wind projects is also underway.

$1 = PHP55.82