Yes, the alternator is to the left (Edit: to the left as you look to the engine from the front) but not quite so down. At least its longitudinal axle is not lower than the tensioner.
Edit: better said, the alternator is to the right side of the engine (or engine bay).
Here is a picture, not as clear as I would like to but good enough:
![](/lz/proxy.php?image=http%3A%2F%2Fimg297.imageshack.us%2Fimg297%2F7748%2Ftd5engineosmm9.th.jpg&hash=75ac99cd90d36dbb5f90efa4427c0a10)
And here are all the layouts depending on the accessories fitted:
![](/lz/proxy.php?image=http%3A%2F%2Fimg297.imageshack.us%2Fimg297%2F4932%2Fserpentinebelttd5tz7.th.jpg&hash=2fe06d9cc08797cf057153e325c827a2)
Edit: better said, the alternator is to the right side of the engine (or engine bay).
Here is a picture, not as clear as I would like to but good enough:
![](/lz/proxy.php?image=http%3A%2F%2Fimg297.imageshack.us%2Fimg297%2F7748%2Ftd5engineosmm9.th.jpg&hash=75ac99cd90d36dbb5f90efa4427c0a10)
And here are all the layouts depending on the accessories fitted:
![](/lz/proxy.php?image=http%3A%2F%2Fimg297.imageshack.us%2Fimg297%2F4932%2Fserpentinebelttd5tz7.th.jpg&hash=2fe06d9cc08797cf057153e325c827a2)