Alternergy Holdings eyes 225-MW renewable energy capacity by year-end

ALTERNERGY HOLDINGS CORP. expects to commission 225 megawatts (MW) of renewable energy capacity this year, according to its president.

“For our more exciting projects under construction, we are expecting to complete a total of 225 megawatts of generation in 2025, where construction currently are in full blast activities,” Alternergy President Gerry P. Magbanua said during the PSE STAR: Investor Day last week.

Among the projects targeted for completion is the 28-MW Balsik solar power project in Bataan, scheduled for the second quarter.

The 4.6-MW Dupinga run-of-river mini hydro project in Nueva Ecija is set for the third quarter, while the 128-MW Tanay wind power project in Rizal is expected by the fourth quarter.

The 64-MW Alabat wind power project is also planned for completion within the last four months of the year.

“What we’re very excited about is that in this year, we are trying to complete five projects that are under construction, and will achieve commercial operations by the end of the year,” Mr. Magbanua added.

Alternergy aims to expand its renewable energy portfolio to 500 MW by end-2026 and to 1 gigawatt by 2030.

“We are up pacing ourselves in the next few years and as we go, we are very active in the capital markets exploring options to raise capital to be able to finance all of these initiatives that we’re working on,” Mr. Magbanua said.

For the nine months ending March, Alternergy reported a 31% year-on-year increase in net income to P109 million, which included a one-time gain from the full acquisition of the Tablas Straits offshore wind projects.

Revenues grew 43% year on year to P261 million, supported by the Palau solar battery energy storage system operations.

Alternergy’s portfolio includes wind, run-of-river hydro, solar farm and commercial rooftop, battery storage, and offshore wind projects. — Sheldeen Joy Talavera