Alternergy

What Alternergy does

Alternergy Holdings Corporation is a Philippines-based renewable energy independent power producer that develops, builds, and operates utility-scale wind, solar, run-of-river hydro, floating solar, and battery energy storage projects across the Philippines and selectively in the Western Pacific. The company was established in 2008 by a founding team that included former Philippine Energy Secretary Vicente S. Pérez, Jr., and traces its lineage to the developers of the Bangui Bay wind farm, the first on-grid wind facility in Southeast Asia. Alternergy is publicly listed on the Philippine Stock Exchange under the ticker ALTER following its March 2023 IPO, with a PHP 1.6 billion raise and a follow-on PHP 1.45 billion Perpetual Preferred Shares subscription by the Government Service Insurance System (GSIS) in November 2023.

The company operates a diversified multi-technology portfolio of 12 operating assets totaling 114 MW of installed capacity by end-2025, plus 3 projects under construction (Tanay 99.2 MW wind, Alabat 62.4 MW wind, Dupinga 5 MW hydro) and further projects in pre-development, with a stated target of more than 1 GW of renewable capacity by 2030. Its portfolio includes the 54 MW Pililla wind farm, 33 MW Bangui Bay wind farm, 94 MW Sembrano wind project, the Kirahon and Solana solar farms, CitySun solar rooftop portfolio, run-of-river hydro projects in Ifugao and Nueva Ecija, and the Palau Solar plus Battery Storage hybrid (13.2 MWac PV + 12.9 MWh BESS). Subsidiary brands include Solar Pacific (utility-scale and rooftop solar), CitySun (rooftop portfolio), and GESSI (retail electricity supply under an ERC-issued RES license).

Alternergy generates revenue primarily through long-term (typically 20-year) power supply agreements under bilateral PPAs with credit-rated utilities, electric cooperatives, and large commercial customers, supplemented by Feed-in-Tariff-equivalent arrangements and contracts won under the Philippine DOE's Green Energy Auctions (208 MW at GEA 2 in 2023 and 500 MW at GEA 4 in early 2026). Off-takers include TransCo, NEECO II-Area 2, Kratos RES (Villar Group), Peninsula Electric Cooperative, CEPALCO, and Palau Public Utilities Corporation. The company reports assets of PHP 23.6 billion as of Q3 FY2026 (a 32% year-over-year increase) and has raised approximately PHP 20 billion across equity, preferred shares, and project finance (DBP, BPI, IFC, RCBC, China Bank, Export Finance Australia) over a recent 15-month window to fund its project pipeline. Key partners include Shell Overseas Investment B.V. (offshore wind JV), Vena Energy (Sembrano), Eurus Energy (legacy wind), Exeter Portofino Holdings (Lamut-Asipulo hydro), InfraCo Asia (Ifugao hydro), ABC Energy Inc. (40% stake in Tanay and Alabat wind), EPC contractor China Energy Engineering Group GEDI, turbine supplier Envision Energy, and Owner's Engineers K2 Management and DNV.

Name

Alternergy

Legal name

Alternergy Holdings Corporation

Website

https://alternergy.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Alternergy Holdings Corporation is a Philippines-based publicly-listed renewable energy independent power producer that develops, builds, and operates utility-scale wind, solar, run-of-river hydro, and battery storage projects, selling power primarily under long-term PPAs with utilities, electric cooperatives, and commercial off-takers.

Ownership category

akta.pro rank

Product category

Renewable Energy Power Generation

NAICS

Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Hydroelectric Power Generation (221111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Renewable Energy Asset Management (Solar/Wind/Hydro/Geothermal) (EUAEAMAB)

akta.pro secondary industry

Green Tariff & Renewable Add-On Brokerage (RECs/GoOs Bundled Offers) (EUAGAEAJ)

Keywords

• Renewable energy generation
• Wind power development
• Solar power projects
• Run-of-river hydro
• Retail electricity supply

Headquarters

HQ city

Makati

HQ country

Philippines

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Power Generation and Sale: Alternergy generates electricity from wind, solar, and hydro power projects and sells the generated power to offtakers through long-term power supply agreements. Revenue comes from annual cash flow generated from the sale of power to utilities, electric cooperatives, and commercial customers.
2. Feed-in-Tariff Agreements: The company secures long-term power sale agreements comparable to Feed-in-Tariff rates that have allowed projects to be financially viable and attractive.
3. Bilateral Power Purchase Agreements: Establishment of offtake agreements through bilateral partnerships with utilities and commercial customers.
4. GESSI Retail Energy Supply: Green Energy Supply Solutions (GESSI) allows green-conscious consumers direct access to choose and purchase renewable electricity, providing a retail energy supply business model.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Alternergy develops, builds, finances, and operates a diversified portfolio of renewable energy power projects across the Philippines and Palau, including onshore and offshore wind farms, utility-scale and rooftop solar photovoltaic projects, run-of-river mini-hydro facilities, and battery energy storage hybrid systems. The company sells generated electricity to electric utilities, cooperatives, and commercial off-takers through bilateral Power Purchase Agreements (PPAs), Feed-in-Tariff arrangements, and Department of Energy Green Energy Auctions, while also offering direct retail renewable energy supply to consumers through its GESSI subsidiary.

Product overview

Alternergy is a Philippine pioneer in renewable energy developing a diversified portfolio of wind, solar, and run-of-river hydro power projects. The company operates across multiple product categories including onshore wind farms (Bangui Bay, Pililla, Sembrano, Tanay, Alabat, Abra de Ilog), offshore wind (Tablas Strait), solar farms (Kirahon, Solana), solar rooftop portfolios (CitySun), hydro projects (Dupinga, Kiangan, Lamut Asipulo, Ibulao), and battery storage hybrid systems (Palau). The portfolio includes 12 operating assets with projects under construction and in pre-development stages targeting 1 GW+ capacity by 2030. The company also offers GESSI, a retail energy supply business enabling consumers to directly purchase renewable electricity.

Differentiator

Problem solved

Functional benefit

Brands

• GESSI (Green Energy Supply Solutions): Retail electricity supply business that allows green-conscious consumers the opportunity to directly buy renewable electricity.
• Solar Pacific
• CitySun

Products and services

• Bangui Bay Wind Farm 33 MW commercial wind farm in North Luzon, the first on-grid wind farm in Southeast Asia. Developed by founding partners of Alternergy under NorthWind prior to the company's formation.
• Pililla Wind Farm 54 MW wind farm situated 40 km from Manila, recognized as a renewable energy tourist destination.
• Sembrano Wind Project 94 MW wind project serving as the second phase of the Pililla Rizal wind farm, developed in partnership with Vena Energy.
• Tanay Wind Power Project 99.2 MW wind power project providing reliable clean energy near the main power demand center in Luzon, developed with EPC contractor GEDI and Owner's Engineer K2 Management.
• Alabat Island Wind Project 62.4 MW wind project on Luzon eastern seaboard facing prevailing northeast monsoon, featuring typhoon-resistant turbine technology.
• Abra de Ilog Wind Project Wind project in Mindoro aimed at transforming the island into a renewable energy exporter to the Luzon grid.
• Tablas Strait Offshore Wind Project One of the first offshore wind projects in the Philippines, being developed through a joint venture partnership with Shell Overseas Investments.
• Kirahon Solar Farm 12.5 MWp solar farm noted as the first bilateral solar PSA approved by the Energy Regulatory Commission.
• CitySun Solar Rooftop Portfolio 5 MWp solar rooftop portfolio, the first project in the Philippines to finance a portfolio of solar rooftop installations under one project financing facility.
• Solana Solar Power Project 28 MWdc (20MWac) solar power project providing new green energy supply to fuel development of the Hermosa Bataan region.
• Dupinga Run-of-River Hydro Project 4.6 MW run-of-river hydro project developed in close collaboration with the Dumagat Indigenous Peoples, recently expanded to 5 MW.
• Kiangan Run-of-River Hydro Project 17.4 MW run-of-river hydro project comprising three run-of-river sites bundled to maximize power output.
• Lamut Asipulo Run-of-River Hydro Project 6.8 MW run-of-river hydro project developed with support of the Kalaguya, Ayangan and Tuwali peoples.
• Ibulao2 Run-of-River Hydro Project 7.4 MW run-of-river hydro project harnessing the waters of Ibulao River, traditionally considered the birthplace of Ifugao peoples.
• Palau Solar Plus Battery Storage Project 13.2 MWac Solar Photovoltaic plus 12.9 MWh Battery Energy Storage System project - the largest solar hybrid project in the Western Pacific region.
• GESSI Retail Electricity Supply Retail electricity supply business that allows green-conscious consumers the opportunity to directly buy renewable electricity through the ERC-licensed Retail Electricity Supplier model.

Quantifiable outcome

• 86,000 tons of carbon emissions displaced annually
• +3 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• ABC Energy Inc.coreStrategic or Co-development Partner · 1 March 2026Partnership cleared by PCC with Alternergy at 60% majority ownership and ABC Energy at 40%. Joint development of 128 MW Tanay and 64 MW Alabat Wind Power Projects.
• Envision EnergycoreTechnology or Integration · 1 March 2026Supplier and installer of largest international wind turbine (8MW) for Alabat Wind Power Project. First direct barge delivery of wind turbines from China to international market.
• China Energy Engineering Group Guangdong Electric Power Design Institute (GEDI)coreImplementation/ SI/ Consulting Partner · 1 February 2024EPC contractor for Tanay and Alabat wind farm projects with design, engineering, civil and electrical works, equipment transport, construction and installation. GEDI and subsidiary GCDC engaged for Balance of Plant EPC.
• K2 Management A/S (Denmark)coreImplementation/ SI/ Consulting Partner · 1 February 2024Owner's Engineer appointments for Tanay and Alabat Wind Farm Projects, providing technical oversight and project management expertise.
• DNV (Norway)minorImplementation/ SI/ Consulting Partner · 1 June 2023Appointed as Owner's Engineer for 15.3 MW solar power and 12.9 MWh battery project in Palau.
• Shell Overseas Investment B.V.coreStrategic or Co-development Partner · 1 November 2022Joint venture for offshore wind farm development at the Calavite Passage in Mindoro. In 2026, 40% equity stake in ATWC and AWPC acquired by ABC subsidiary (related entity).
• Exeter Portofino HoldingscoreStrategic or Co-development Partner · 1 September 2022Partnership for the development of the Lamut-Asipulo hydro power project with shared commitment to sustainability, local communities, and preservation of Ifugao Heritage Sites.
• Vena EnergycoreStrategic or Co-development Partner · 1 June 2018Partnership for the Sembrano wind project development.
• InfraCo AsiaminorStrategic or Co-development Partner · 1 April 2016Singapore-based InfraCo Asia committed to co-developing the Ifugao run-of-river hydro portfolio.
• Eurus Energy (Japan)coreStrategic or Co-development Partner · 1 August 2009Partnership with Eurus Energy of Japan and Korea East West Power to co-develop wind portfolio. Eurus Energy bought out by Alternergy in 2011.
• Solar PacificcoreStrategic or Co-development PartnerStrategic partnership for solar development including Kirahon Solar Farm, CitySun rooftop portfolio, Solana Solar, and Palau projects. Alternergy has increased ownership in Solar Pacific over time.

Scale indicators16 records

Recent moves12 records

Expansion highlights6 records

Broad incumbents

• SMC Global Power Holdings: San Miguel's power arm with one of the largest installed capacities in the Philippines; increasingly adding renewables to its portfolio and competing with Alternergy in GEA bids.
• Aboitiz Power Corporation: Major Philippine power conglomerate with a growing renewable energy mix (hydro, geothermal, solar, wind); competes with Alternergy for utility-scale renewable projects and corporate PPAs.
• Energy Development Corporation (EDC): Largest geothermal producer in the Philippines with growing wind, solar, and hydro assets; competes with Alternergy in renewable baseload and hybrid projects supplied to the Luzon and Visayas grids.
• Engie SA (Southeast Asia): Global energy major with renewable energy operations across Asia-Pacific; competes with Alternergy in regional utility-scale wind, solar, and battery storage development.
• MERALCO PowerGen Corporation (MGen): MERALCO's power generation arm developing solar, wind, and battery storage; competes with Alternergy for utility-scale renewable supply and corporate offtake in the Luzon grid.
• First Gen Corporation: One of the Philippines' largest independent power producers with a renewables portfolio (hydro, geothermal, wind, solar) that competes with Alternergy in utility-scale renewable supply and government auctions.

Direct peers

• Vena Energy: Singapore-headquartered Asia-Pacific renewable energy IPP/developer with active operations in the Philippines; partnered with Alternergy on the Sembrano wind project and competes for greenfield renewable development in the same markets.
• ACEN Corporation: Ayala Group's listed renewable energy platform and the largest renewable developer in the Philippines, directly competing with Alternergy in DOE Green Energy Auctions and bilateral PPAs across wind, solar, and battery storage.

Emerging players

• Scatec ASA: Norwegian renewable energy developer with a global IPP footprint and growing presence in Southeast Asia; comparable in business model (develop, own, operate utility-scale solar/wind/storage) and may compete for project-level financing partners.

Regional players

• Petron Corporation (RE arm): Philippine downstream oil major with growing investments in solar and other renewables through subsidiaries; competes with Alternergy for renewable supply opportunities in the Philippine archipelago.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/alternergycorp
• YouTubeyoutube.com/channel/UCQwTPoEo97J0pEPIJ1r1Nsg
• Facebookfacebook.com/alternergycorp
• LinkedInlinkedin.com/company/alternergycorp
• Instagraminstagram.com/alternergycorp

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alternergy