First Gen Corp.’s independent directors pushed back against critics of its clean energy expansion, stating that the projected annual earnings fully justify the acquisition premium paid to billionaire Enrique Razon Jr.’s Prime Infrastructure Capital Inc. In a joint press statement, independent...
First Gen Corp., the power producer controlled by the Lopez family, rejected allegations from a majority faction of its founding clan over a ₱50 billion premium paid for a stake in a pumped-storage hydropower venture, saying the claims show the fundamental misunderstanding of corporate finance....
First Gen Corp. Chief Executive Officer Federico “Piki” Lopez moved to reassure investors that the clean energy producer’s operations remain unaffected by the months-long family rift, after the holding company board withdrew a resolution to oust him. Speaking at the company’s annual...
Lopez-led First Gen Corp. is betting that its ₱50 billion partnership with billionaire Enrique Razon Jr. will provide the scale necessary to insulate local grid from volatile energy markets, defending the sale of its majority stake in the natural gas portfolio as a move to prioritize cheaper...
Manila Electric Co. (Meralco) is keeping the door open for the Sta. Rita natural gas plant to participate in future supply auctions even as its long-term contract with the utility nears its conclusion. Ronald Valles, Meralco senior vice president and head of regulatory management, said First Gas...
CEBU CITY – To address growing demand, a leading renewable energy (RE) provider is expanding their footprint in Cebu. Officials of First Gen Corp. said they are ramping up their electricity supply business and clean energy solutions in the province where they currently serve 79 customers,...
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...
First Gen Corp. has secured ₱24.75 billion in financial backing from Sy-led BDO Unibank Inc. to acquire a minority stake in a massive hydropower venture, provided that Chairman and Chief Executive Officer Federico “Piki” Lopez remains at the helm of the energy giant. The Lopez-led power...
First Gen Corp. clarified the inclusion of “Key Man” clauses in its hydropower joint venture with Prime Infrastructure Capital Inc., dismissing descriptions of the management control provisions as a “poison pill” and asserting the terms were a requirement of its partner. The power producer...
First Gen Corp. confirmed that it faces a potential financial hit of more than ₱23 billion if Federico “Piki” Lopez is ousted from leadership, disclosing “poison pill” clauses in its partnership with ports, and gaming magnate Enrique K. Razon Jr.’s Prime Infrastructure Capital Inc. In...
First Gen Corp. is on track to expand its hydroelectric footprint as it nears the completion of its storage facility in Nueva Ecija, the renewable energy arm of the Lopez family reported. In a filing with the Securities and Exchange Commission (SEC), the company’s subsidiary, First Gen Hydro...
Lopez-led First Gen Corp. posted a rebound in earnings in 2025, driven by stronger hydropower generation that helped offset weaker contributions from its geothermal business. In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, March 25, First Gen said its attributable recurring net...
