Alternergy Holdings Corporation (ALTER) announced Thursday it has opened a new entity that will focus on retail electricity supply as part of its expansion plans, citing growth opportunities in this segment.
In a disclosure to the Philippine Stock Exchange (PSE), the company said the Securities and Exchange Commission has approved the creation of ALTER Power RES, Inc. (ALTER Power), eyed to supply renewable energy (RE) to end-users.
ALTER is also set to register ALTER Power with the Energy Regulatory Commission (ERC) to secure a retail electricity supplier (RES) license.
“The creation of ALTER Power is part of Alternergy’s overall expansion plans. We aim to be a supplier of choice by end-users that place considerable value to sustainability,” Gerry Magbanua, president of ALTER and ALTER Power, said in a regulatory filing.
Citing the steady growth of the retail electricity market for several years now, Magbanua said demand is around 6,500 megawatts as of August this year.
This demand is around 45 percent of the total system peak in the domestic market, he said, but added current players are “vertically integrated companies which are in the generation, distribution, supply sectors.”
“With ALTER Power, we hope to create and stimulate greater competition and supplier diversity in the retail electricity market,” he said.
Meanwhile, ALTER said stable growth of its 12.5 megawatts-peak solar farm in Villanueva, Misamis Oriental, the Kirahon Solar, helped drove the company’s net income in the first quarter of fiscal year 2026 to PHP22 million, up 26 percent in the same period during the previous fiscal year.
ALTER’S fiscal year starts on July 1 and ends on June 20 the following year. Its first quarter runs from July 1 to end-September.
“This growth was achieved despite lower-than-expected operating revenues from the Palau Solar PV (photovoltaic) + Battery Energy Storage System, which was impacted by reduced solar irradiation,” it said, referring to its project in Palau, which to date is the largest solar hybrid project in the Western Pacific.
Carmen Diaz, ALTER chief finance officer, in the same disclosure, said they continue “to exercise strict financial management as we await the start of commercial operations of our projects that would bring steady revenue generation.”
Diaz said consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 17 percent to PHP89 million from PHP76 million in FY 2025.
“ALTER is focused on completing the construction of our projects. We have started the testing and commissioning of our Hermosa Solar Power Project and (it) is expected to be in commercial operations very soon. We are almost complete in the construction of our Dupinga Run-of-River Power Project while the Tanay and Alabat Wind Power Projects have started installation of the first wind turbines,” she said.
“It is only a matter of time now, these projects are expected to boost ALTER’s financial standing.”
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