Alternergy's Profit Falls Lower Wind Revenues and Strong Solar Performance I'm glad I didn't need to make any further changes! Your edits seem to have improved the readability, concision, and flow of the text. The key takeaways at the end also help summarize the main points nicely.

Title Alternergy's Profit Falls Lower Wind Revenues and Strong Solar Performance

In a recent disclosure, Alternergy Holdings Corp. reported a significant decline in its net income for the first half of its current fiscal year. The company's profit fell by nearly 27 percent to P88.59 million, down from P121.18 million in the same period last year.

The primary driver behind this decline was the reduction in revenues generated by the Pililla Wind Project due to weaker wind speeds, which resulted in lower power production. However, Alternergy's solar assets played a crucial role in boosting total revenues from electricity sales, increasing to P181.19 million at the end of December 2024 from P100 million in the same period last year.

The inclusion of the Palau Solar Power Project, which began commercial operations in December 2023, and revenue contributions from other solar assets, such as the Kirahon Solar Project and CityMall rooftop portfolio, also contributed to this increase. Furthermore, Alternergy's earnings before interest, taxes, depreciation, and amortization (EBITDA) rose marginally to P177.20 million in the six months ended December 2024 from P175.30 million a year earlier.

Looking ahead, Alternergy anticipates the completion of four projects with a total capacity of 225 megawatts (MW) this year, which is expected to drive overall revenue growth. The company has also reported a significant increase in its cash position, growing by 33 percent to P4.40 billion as of end-December 2024 from P3.30 billion six months prior.

This fresh influx of funds will enable Alternergy to accelerate the construction of its Tanay Wind Power Project and Alabat wind power projects, which are expected to drive growth and strengthen the company's position in the renewable energy market.

We're committed to investing in our future for continued success, said Alterenergy President Gerry P. Magbanua. With a healthy financial position, we've made significant equity infusions of around P2.10 billion over the reporting period to jumpstart construction of our Tanay Wind, Alabat Wind, and Balsik Solar projects.

These strategic investments will undoubtedly yield future growth opportunities for Alternergy.

Conclusion

Alternergy's financial performance in the first half of its current fiscal year was impacted by lower wind revenues. However, the company's solar assets have helped to mitigate this decline and drive overall revenue growth. With a healthy cash position and fresh funding, Alternergy is well-positioned to accelerate its growth trajectory and strengthen its position in the renewable energy market.

Key Takeaways

Lower wind revenues due to weaker wind speeds resulted in a 27 percent decline in net income for Alternergy.
Solar assets played a crucial role in boosting total revenues from electricity sales, increasing by P81.19 million.
The company anticipates completing four projects with a total capacity of 225 MW this year, which will drive overall revenue growth.
Fresh funding will enable Alternergy to accelerate the construction of its Tanay Wind Power Project and Alabat wind power projects.

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Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.