Alternergy advances four projects, sets sights on 464 MW growth pipeline

• Alternergy advanced four renewable energy projects: 28 MW Balsik Solar and 4.6 MW Dupinga Run-of-River Hydro now in commercial operations; 64 MW Tanay Wind and 128 Alabat Wind have begun generating commissioning revenues

• Fiscal year 2026 revenues grew 31% to P471.8 million, EBITDA increased 39% to

  P553 million while net income rose 2% to P168.2 million, and total assets expanded 38% to P24.6 billion.

• Advancing a 462 MW pipeline awarded under the DOE’s GEA4 as it continues to pursue its One Green Gigawatt by 2030 growth target

Alternergy Holdings Corporation (PSE: ALTER), a Philippine pioneer in renewable power

development, highlighted significant progress across four renewable energy projects and

stronger financial performance at its Annual Stockholders’ Meeting, as it prepares to bring its two largest wind developments into commercial operations and advance a 464-megawatt (MW) pipeline.

Themed “Power in Motion: From Ambition to Impact,” the gathering marked the company’s first in-person stockholders’ meeting since its 2023 listing on the Philippine Stock Exchange.

In his report, Alternergy president Gerry Magbanua outlined the company’s progress in

translating its investments into operating assets while building the organization to support its ambition of One Gigawatt by 2030.

Four projects move closer to full operations

The 28-megawatt (MW) Balsik Solar Farm commenced commercial operations in February

2026, followed by the 4.6 MW Dupinga Run-of-River Hydro Power Plant in March. More than a decade in the making, Dupinga’s completion marked the culmination of years of

development work and perseverance through setbacks, adding another operating asset to Alternergy’s portfolio of wind, solar and run-of-river hydro projects. The project also puts Alternergy’s Triple Play into motion, strengthening its balanced portfolio across three

renewable energy technologies.

Meanwhile, the 64 MW Alabat Wind Farm and the 128 MW Tanay Wind Farm have both

started generating commissioning revenues ahead of full commercial operations. Alabat is

scheduled to begin commercial operations in December this year, followed by Tanay in

January 2027.

Stronger financial foundation

For fiscal year 2026, Alternergy’s consolidated revenues grew 31% to P471.8 million, while

earnings before interest, taxes, depreciation and amortization (EBITDA) increased 39% to

P553.8 million. Net income rose 2% to P168.2 million, and total assets expanded 38% to P24.6 billion.

These results reflect the company’s continuing investments in its renewable energy platform and expanding asset base. Alternergy emphasized, however, that growth in assets must ultimately translate into stronger operating performance, cash generation and sustainable returns.

With Alabat and Tanay already earning commissioning revenues, their transition to

commercial operations is expected to convert substantial development investments into

recurring electricity sales and operating cash flows.

Next phase of growth

Beyond its current projects, Alternergy is advancing its next phase of development through projects awarded under the Department of Energy’s fourth Green Energy Auction (GEA 4), with a combined generating capacity of 464 MW.

These projects provide a substantial foundation for the company’s ambition to reach One

Gigawatt by 2030.

Alongside investments in new capacity, Alternergy is strengthening its capabilities, systems

and governance to support a larger operating portfolio.

The company has also institutionalized environmental, social and governance practices across the life cycle of its projects, integrating ESG considerations into how it develops, builds and operates its assets.

Delivering value to shareholders

The meeting highlighted a pivotal moment in the company’s growth journey with newly

completed projects that are now contributing to operations, its largest wind developments generating commissioning revenues, and a sizeable development pipeline setting the course for further expansion.

Under the theme “Power in Motion: From Ambition to Impact,” Alternergy reaffirmed its

focus on translating project milestones into sustained operating performance, long-term

shareholder value, and a growing contribution to the country’s renewable energy transition.