ALTERNERGY Holdings Corp. on Friday reported a net income of P113.817 million for the first nine months of its fiscal year, up from P109.081 million in the comparable period.
Revenues for the period ending March also rose to P304.169 million from P260.738 million, which it said was driven by the start of commercial operations of the 28 megawatt-peak (MWp) Balsik solar power plant.
"Alternergy’s solar assets have been generating steady revenue flow over the years and building the company’s technical expertise in solar project development, operations and maintenance,” Alternergy President Gerry Magbanua said in a statement.
"Our 5 MW Dupinga run-of-river plant has commenced operations in March. This will be followed by the 128 MW Tanay Wind and 64 MW Alabat Wind which are at 83 percent and nearing completion," he added.
"These new assets, with a combined capacity of 197 MW, will significantly boost Alternergy’s revenues."
Alternergy's share price rose by a centavo to close at P0.86 apiece on Friday.