Alternergy posts $1.45m Q2 profit on solar commissioning boost

Solar test revenues supported the company’s earnings growth.

Philippine’s Alternergy Holdings Corporation (ALTER) recorded a net income of $1.45m (PHP84m) for the second quarter of fiscal year 2026, according to a press release.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached $4.46m (PHP258m), an increase from $3.06m (PHP177m) in the previous year.

Operating revenues rose 4% to $3.25m (PHP188m), driven by $224,758 (PHP13m) in test revenues generated from the 28 MWp Balsik Solar Power Plant during its commissioning phase.

The facility contributed 7% of total operating revenues for the period and began commercial operations in January 2026.

Performance remained steady across the 12.5 MW Kirahon Solar Power Plant, the Palau Solar and Battery Energy Storage System, and the CityMall rooftop projects. Revenue from the 54 MW Pililla Wind Farm declined due to lower wind production.

The company’s balance sheet shows total assets of $388.99m (PHP22.5b), whilst cash stood at $86.45m (PHP5b) following capital infusions and dividend payments, the press release said.

Equity infusions for the construction of the Tanay Wind, Alabat Wind, and Balsik Solar projects totalled $100.28m (PHP5.8b), with project finance drawdowns reaching $204.01m (PHP11.8b).

Four projects with a combined capacity of 225 MW are scheduled for completion in 2026: the 4.6 MW Dupinga hydro, 28 MW Balsik Solana, 64 MW Alabat Wind, and 128 MW Tanay Wind projects.

The company targets 500 MW of capacity by 2026 and one gigawatt by 2030, the press release said.

In December 2025, Government Service Insurance System received a dividend payment of $2.04m (PHP118m) from the company.

ALTER also holds five Certificates of Approval from the Department of Energy for wind, aqua-voltaic, and solar battery projects scheduled for 2028.

(US$1 = PHP57.84)