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...
The recurrence of gas supply restriction from the Malampaya field has triggered another round of shutdown for the 414-megawatt San Gabriel power plant of First Gen Corporation, according to sources from the company. The gas being fed to the San Gabriel power plant of the Lopez group is drawn from...
The Net Zero Carbon Alliance (NZCA), which is a pioneering collaboration of Philippine corporates and organizations that are genuine stewards for the environment and the planet, is calling on businesses to pursue veritable net zero goals and for them to veer away from ‘greenwashing’ duplicity....
Lopez-led First Gen Corporation will be supplying additional 20 megawatts of renewable energy-based capacity to Central Negros Electric Cooperative (CENECO), one of the biggest power distribution utilities in the Visayas region. In a statement to the media, First Gen noted that the supply of...
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...
