Alternergy Holdings Corporation (ALTER) announced a significant strategic move to reposition its retail electricity supply (RES) business alongside the release of robust financial results for the first quarter of fiscal year 2026, ending September 2025.
Strategic Repositioning in the Retail Electricity Market
Alternergy is positioning itself to capture new growth opportunities in the competitive retail electricity market with the incorporation of a new wholly-owned subsidiary, ALTER Power RES, Inc. (ALTER Power).
ALTER Power, a subsidiary of Alternergy Solar Holdings Corporation (“ASHCo”), recently secured approval for its incorporation from the Securities and Exchange Commission (SEC). The new entity will be exclusively focused on supplying renewable and sustainable power to the competitive retail electricity market.
Following the SEC approval, ALTER Power will now proceed to register with the Energy Regulatory Commission (ERC) to obtain its license as a retail electricity supplier, marking a crucial step in executing this strategic expansion.
Strong Financial Performance for Q1 FY2026
ALTER reported a strong start to the fiscal year, with net income increasing by 26% to PhP22 Million for the first quarter.
The growth was primarily driven by the stable and solid performance of the Kirahon Project. This achievement comes despite lower-than-expected operating revenues from the Palau Solar PV + Battery Energy Storage System, which faced impacts from reduced solar irradiation during the period.
Balance Sheet and Investment Highlights:
- Asset Growth: Alternergy’s consolidated assets reached PhP19.4 billion as of September 2025, marking a 9% increase over the period.
- Capital Expenditures: The company made significant investments, recording almost PhP4 billion in capital expenditures as it progresses the construction of its vital wind and solar projects.
- Strong Cash Position: Despite the substantial capital investments, ALTER maintained a strong cash position of PhP4 billion, underscoring its financial resilience and ability to fund future projects.
