Manila: Alternergy Holdings Corporation (ALTER) announced Thursday it has opened a new entity that will focus on retail electricity supply as part of its expansion plans, citing growth opportunities in this segment. In a disclosure to the Philippine Stock Exchange (PSE), the company said the Securities and Exchange Commission has approved the creation of ALTER Power RES, Inc. (ALTER Power), eyed to supply renewable energy (RE) to end-users. ALTER is also set to register ALTER Power with the Energy Regulatory Commission (ERC) to secure a retail electricity supplier (RES) license.
According to Philippines News Agency, Gerry Magbanua, president of ALTER and ALTER Power, stated in a regulatory filing that the creation of ALTER Power is part of Alternergy’s overall expansion plans, with the aim to be a preferred supplier for end-users prioritizing sustainability. Magbanua noted the steady growth of the retail electricity market, with demand around 6,500 megawatts as of August this year, representing about 45 percent of the total system peak in the domestic market. He emphasized the dominance of vertically integrated companies in the current market and expressed hope that ALTER Power will stimulate greater competition and supplier diversity.
Meanwhile, ALTER reported stable growth from its 12.5 megawatts-peak solar farm in Villanueva, Misamis Oriental, known as the Kirahon Solar. This contributed to the company’s net income in the first quarter of fiscal year 2026, which rose to PHP22 million, marking a 26 percent increase compared to the previous fiscal year. ALTER’s fiscal year begins on July 1 and ends on June 20 the following year, with the first quarter running from July 1 to the end of September. Despite lower-than-expected operating revenues from the Palau Solar PV + Battery Energy Storage System due to reduced solar irradiation, the project remains significant as the largest solar hybrid project in the Western Pacific.
Carmen Diaz, ALTER’s chief finance officer, indicated that the company continues to exercise strict financial management as it awaits the start of commercial operations of projects expected to generate steady revenue. Consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 17 percent to PHP89 million from PHP76 million in FY 2025. Diaz highlighted the progress of the company’s projects, noting the testing and commissioning of the Hermosa Solar Power Project, which is expected to commence commercial operations soon. The construction of the Dupinga Run-of-River Power Project is nearly complete, while the Tanay and Alabat Wind Power Projects have begun installing the first wind turbines. These projects are anticipated to strengthen ALTER’s financial position.
