The Energy Regulatory Commission (ERC) is requiring power utility giant Manila Electric Company (Meralco) to file a formal application for the pass-on of fuel charges that shall be reckoned from the new gas sale and purchase agreement (GSPA) that First Gen Corporation had signed with the Malampaya...
The Energy Regulatory Commission (ERC) has clearly stipulated that clearance shall be secured first before Manila Electric Company (Meralco) can pass on costs relating to procured supply from plants running on liquefied natural gas (LNG) – and that is primarily applied to its contracted...
The Philippine Competition Commission (PCC) has given the greenlight for Fresh River Lakes Corporation, a subsidiary of the Lopez-controlled First Gen Corporation, to acquire Casecnan Hydroelectric Power Plant (CHEPP) The 165MW Casecnan hydroeletric power plant CHEPP is being sold by the...
Apex Mining Company, a publicly-listed firm controlled by billionaire Enrique K. Razon Jr., has tapped the Lopez Group’s First Gen Corporation to boost the share of renewable sources in its energy mix. Apex Mining President and CEO Luis R. Sarmiento leads the contract signing between Apex Mining...
First Gen Corp. and Prime Infrastructure Capital, Inc. (Prime Infra) have entered into a lease agreement for the liquefied natural gas (LNG) storage and regasification terminal located in Batangas City. In a disclosure to the Philippine Stock Exchange on Wednesday, Dec. 27, First Gen said that...
Following a successful international tender activity, the Lopez-led First Gen Corp. (FGen) has granted a contract to TotalEnergies Gas & Power Asia Private Ltd. (TEGPA) for the provision of liquefied natural gas (LNG) cargo in Batangas. In a disclosure to the Philippine Stock Exchange on...
Renewable energy firm Energy Development Corporation (EDC), a subsidiary of Lopez-led First Gen Corporation, is scheduling the second tranche of its ASEAN green bond offering with target proceeds of P10 billion that will continually bankroll the company’s projects. In a disclosure to the...
Lopez-led First Gen Corporation has awarded its next cargo of liquefied natural gas (LNG) delivery to multinational fuel trading firm Trafigura Pte Ltd. Based on the awarded contract, Trafigura will have to supply one cargo LNG with a volume of roughly 154,500 cubic meters (m3) – which will be...
Lopez-led First Gen Corporation has signed P20 billion term loan agreement with major local banks - BDO Unibank, Inc. (BDO) and Bank of the Philippine Islands (BPI) – primarily to fund the acquisition of the 165-megawatt Casecnan hydroelectric power project (CHEPP) in Nueva Ecija. As clearly laid...
Owing to profit contribution of its all-renewable energy (RE) subsidiary, First Gen Corporation has posted a 30 percent hike in its recurring net income to $167 million, approximately P9.0 billion, in the first half of the year versus $128 million or P7.0 billion, in the same period last...
Retrofitting existing gas-fired power plants to hydrogen, which is also a business model eyed by several energy firms in the Philippines for their mid-century net zero targets, could take five to seven years, according to an expert from a Japanese global engineering firm. Takakazu Morimoto,...
Universal Robina Corp. (URC) , one of the country’s largest food and beverage firms, is making a big push this month towards its “net zero” goal in 2050 by sourcing its electricity needs from power producers that use renewable sources. In a statement, URC said it has signed an agreement with...
