Alternergy Holdings Corp. announced that it is advancing a 464‑megawatt renewable‑energy project pipeline under the U.S. Department of Energy’s fourth Green Energy Auction (GEA4). The company said the pipeline will help it reach a target of 1 gigawatt of renewable capacity by 2030. At its annual stockholders’ meeting, Alternergy reported that two of its projects had entered commercial operation in early 2026. The 28‑MW Balsik Solar Farm in Bataan began commercial operations in February, and the 4.6‑MW Dupinga run‑of‑river hydro power plant in Nueva Ecija started in March. The company’s larger wind developments—64 MW Alabat Wind Farm and 128 MW Tanay Wind Farm—have already begun generating commissioning revenues. Alabat is scheduled to commence commercial operations in December, followed by Tanay in January 2027. Financial results for fiscal year 2026 showed a 31 % increase in consolidated revenue to PHP 471.8 million, while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 39 % to PHP 553.8 million. Net income grew 2 % to PHP 168.2 million, and total assets expanded 38 % to PHP 24.6 billion. Alternergy president Gerry Magbanua said the company is focused on converting its investments into operating assets and building the organization needed for expansion. He noted that the completion of the Dupinga facility has put the company’s “Triple Play” strategy—combining wind, solar and run‑of‑river hydropower—into operation. “With the upcoming completion of the Tanay and Alabat Wind Farms in the coming months, we expect more robust financials that will yield more value to our shareholders from our Triple Play portfolio,” Magbanua said. Beyond its current projects, Alternergy is developing the 464‑MW pipeline awarded under GEA4. The company expects the transition of its wind farms to commercial operations to convert development investments into recurring electricity sales and operating cash flows.
Article source: The Daily Tribune | Image credit: The Daily Tribune