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Manila Bulletin devider Business devider The Stock Market devider First Gen to power Ayala-led Globe sites with renewable energy

First Gen to power Ayala-led Globe sites with renewable energy

Published Apr 23, 2026 01:24 pm
First Gen Corp., the renewable energy company controlled by the Lopez family, expanded its footprint in the Philippine retail electricity market after securing new supply agreements with Ayala-led Globe Telecom Inc.
Under the terms of the agreement finalized in April 2026, First Gen will supply renewable power to Globe’s critical infrastructure in Mindanao and Caloocan City. The contract utilizes the government’s Retail Competition and Open Access (RCOA) and Green Energy Option Program (GEOP) frameworks.
These regulatory pathways permit large-scale consumers with average peak demands of 500 kilowatts and 100 kilowatts, respectively, to bypass traditional distribution utilities and source electricity directly from renewable providers.
First Gen currently operates 30 facilities with a total renewable generating capacity of 1,700 megawatts. Specifically, the company’s Mount Apo Geothermal Power Plant in North Cotabato will energize three of Globe’s network facilities in Mindanao. Meanwhile, the Pantabangan-Masiway Hydroelectric Power Plant in Nueva Ecija will service a separate Globe facility in the Caloocan district of Metro Manila.
Yoly Crisanto, Globe chief sustainability and corporate communications officer, said the deal is a milestone in the company’s seven-year decarbonization strategy.
By shifting to indigenous renewable sources, the telecommunications firm aims to insulate its operations from the price volatility and supply chain risks associated with imported fossil fuels.
The transition comes as global energy markets continue to grapple with supply uncertainty, making the predictability of domestic geothermal and hydroelectric costs more attractive for corporate balance sheets.
Carlo Vega, First Gen chief customer engagement officer, noted that geothermal energy is uniquely positioned as a premier renewable source because it provides 24/7 baseload power, unlike intermittent sources such as solar or wind. This reliability is complemented by hydroelectric power, which offers the operational flexibility required to meet peak demand fluctuations.
While First Gen is aggressive in its renewable expansion, it maintains a minority stake in four gas-fired power plants with a combined capacity of 2,017 megawatts. The company utilizes these assets to ensure grid stability and provide a buffer against the intermittency of other renewable energy sources. (Gabriell Christel Galang)

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First Gen Corp. (FGen) Globe Telecom Inc.
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