Alternergy advances 464 MW renewable energy pipeline

Alternergy Holdings Corp. is advancing a 464-megawatt renewable energy project pipeline under the Department of Energy’s fourth Green Energy Auction as it moves four existing projects toward full commercial operations and pursues its 1-gigawatt capacity target by 2030.

At its annual stockholders’ meeting, Alternergy reported that its 28-MW Balsik Solar Farm in Bataan and 4.6-MW Dupinga Run-of-River Hydro Power Plant in Nueva Ecija had begun commercial operations in February and March 2026, respectively.

Its larger wind developments, the 64-MW Alabat Wind Farm and 128-MW Tanay Wind Farm, have also started generating commissioning revenues ahead of commercial operations. Alabat is scheduled to begin commercial operations in December, followed by Tanay in January 2027.

For fiscal year 2026, Alternergy’s consolidated revenue increased 31% to P471.8 million, while earnings before interest, taxes, depreciation and amortization rose 39% to P553.8 million. Net income grew 2% to P168.2 million, and total assets expanded 38% to P24.6 billion.

Alternergy president Gerry Magbanua said the company was focused on turning its investments into operating assets while building the organization to support its expansion plans.

The completion of the Dupinga facility also puts the company’s “Triple Play” strategy into operation, combining wind, solar and run-of-river hydropower technologies.

“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, the company is developing its 464-MW pipeline awarded under GEA4, which will support its goal of reaching 1 GW of renewable energy capacity by 2030.

Alternergy said the transition of its wind farms to commercial operations is expected to turn development investments into recurring electricity sales and operating cash flows.