Kansai Electric Power Co. agreed to acquire a 14 percent equity stake in the parent company behind the 600-megawatt energy storage facility in the Philippines, the Japanese utility’s maiden investment in an overseas pumped storage hydropower project. In a disclosure to the Philippine Stock...
In the prevailing, highly volatile political climate—exacerbated by maritime bullying in the West Philippine Sea that creates an air of uncertainty—it is only natural for foreign investors to take a risk-averse stance toward the country. Yes, Virginia, while the President has been going around...
Lopez-led First Gen Corp. is expanding its partnership with Araneta City Inc. (ACI) to broaden its renewable energy (RE) supply to four more developments in the Quezon City commercial hub. In a statement on Wednesday, July 22, First Gen announced the signing of new power supply agreements (PSAs)...
Lopez-led First Gen Corp. is continuing its renewable energy (RE) expansion after securing a partnership with Grand Union Supermarket Inc. (Grand Union) to supply solar energy to its branches in Bulacan and Laguna provinces. In a statement last week, First Gen said Grand Union, owner of the South...
PT Barito Renewables Energy has submitted an unsolicited proposal to acquire Energy Development Corp. (EDC) in a transaction that values the equity of the Philippines’ premier geothermal producer at approximately ₱308 billion. The development, which could be one of the largest potential clean...
The Philippines remains energy insecure as its growing dependence on Middle Eastern crude oil and tightening power reserves leave the country increasingly vulnerable to global fuel supply disruptions as well as power supply risks, according to state-run think tank Philippine Institute for...
First Gen Corp. has secured a supply agreement to deliver renewable power to the subsidiaries of billionaire Lucio Tan’s LT Group Inc. In a statement, First gen said the Lopez-controlled clean energy producer will supply more than 29 megawatts of geothermal power from its Tongonan facility in...
Aboitiz Equity Ventures Inc. (AEV) has consolidated its position as the market leader in the Philippine power generation sector, ahead of four industry rivals through its extensive portfolio of generation companies. The Cebu-based conglomerate, operating through its core energy unit Aboitiz Power...
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...
