Alternergy gears up for next phase of growth in Philippines

Alternergy Holdings Corp. has reported a consolidated net income of PHP38 million (USD669,267) for the fiscal year ending June 2023 in the Philippines.

Over the next two years, Alternergy will be actively engaged in constructing wind and solar projects while simultaneously finalizing the construction of run-of-river hydro projects. The Palau solar farm and battery project, with a capacity of 13.2 MW(AC), is on track to begin formal commercial operations in Q4 2023. Alternergy's run-of-river hydro projects are slated for completion next year. Additionally, construction is set to commence in 2024 for the Tanay and Alabat wind power projects, boasting a combined capacity of up to 164 MW. Furthermore, Alternergy's solar portfolios, namely the Solana and Apulid solar projects, will enter the construction phase in 2024 and 2025, respectively.