Alternergy nets P122M in FY first half

RENEWABLE energy company Alternergy Holdings Corp. on Thursday reported that net income in the six months ending December 2023, or its fiscal first half, rose to P121.16 million from P879,000 a year earlier on higher power sales.

In a filing, Alternergy attributed the growth to higher revenues from the testing and commissioning of the Palau solar photovoltaic plus battery energy storage system (BESS) project and improved performance from associates, in particular increased production from the Pililla wind project.