Sign in Subscribe
Green technology

Alternergy Holdings Corp. Eyes Revenue Boost from Completed Renewable Energy Projects

Strategic Insights

— 1 min read

Alternergy Holdings Corp., a leader in renewable energy, is anticipating a significant revenue boost this year courtesy of the completion of four key projects with a total capacity of 224.6 megawatts. The company's ongoing construction of these projects, which includes the 28-MW Balsik solar power project, 4.6-MW Dupinga mini hydro project, 64-MW Alabat wind power project, and 128-MW Tanay wind power project, is expected to contribute steadily to its revenues. The Balsik solar and Dupinga hydro projects are nearing completion, with the Tanay and Alabat wind power projects expected to be operational by the end of the year.

Key Takeaways:

  • Alternergy Holdings Corp. is expecting a significant revenue boost this year with the completion of four renewable energy projects totaling 224.6 megawatts in capacity.
  • The company's chief financial officer, Carmen Diaz, stated that the projects will contribute steadily to the company's revenues.
  • The 28-MW Balsik solar power project and 4.6-MW Dupinga mini hydro project are more than 50% and 83% complete respectively and expected to be operational in the second and third quarters.
  • The 64-MW Alabat wind power project and 128-MW Tanay wind power project are expected to be operational in the fourth quarter.
  • The off-takers for the Balsik solar and Dupinga hydro projects are the RES entity of the Villar Group and Nueva Ecija Electric Cooperative II.
  • The company's reported net income in the nine-month fiscal period ending March 31 was P109 million, lower than the previous year's P158 million due to a one-time gain from the acquisition of the Tablas Straits offshore wind projects.
  • Revenues surged 43% to P261 million, driven by the strong performance of the Palau Solar Battery Storage System project.
  • EBITDA increased by 9% to P291 million during the same period.

Statistics:

  • Total capacity of completed renewable energy projects: 224.6 megawatts
  • Revenue increase: 43%
  • Net income: P109 million
  • EBITDA increase: 9%
  • Total portfolio capacity: 86 MW
  • Planned additional capacity: up to 500 MW

Sources:

Alternergy Holdings Corp. press release

The Manila Times

Philippine Star

Read more