First Gen Corporation
First Gen is a leading independent power producer in the Philippines that primarily utilizes clean and indigenous fuels such as natural gas, geothermal energy from steam, hydro-electric, wind, and solar power. The Company has 3,495MW of installed capacity in its portfolio, which accounts for 19% of the country’s gross generation.
See below for the Latest First Gen News, Analysis, Profit Results, Share Price Information, and Commentary.
First Gen needs $9b to boost RE capacity
The company has to increase its capacity by almost four times to reach 13 GW by 2030.
First Gen sets $1.27b capex for 2024
The funding focus will be hydropower and other renewable energy projects.
Tokyo Gas to acquire 20% stake in First Gen LNG
They are developing the Interim Offshore Terminal Project in the Philippines.
SEC greenlights EDC’s $172.8b green bond offering
This is the second tranche of the EDC Fixed Rate ASEAN Green Bonds.
First Gen’s Q1 income drops 9% YoY to $81m
Only the company’s hydro platform saw revenue growth.
First Gen continues development of 1.2 GW natural gas project
It aims to reach 13 GW of total capacity in the next six years.
First Gen's net income up 4% to $277m in 2023
This is despite a 7% decline in revenue.
First Gen awards LNG cargo contract to Trafigura
This came following to completion of an international tender.
First Gen subsidiary wins bid for Casecnan hydropower plant
The 165MW hydroelectric power plant is located in Nueva Ecija.
Philippines’ First Gen posts 52% net income growth
Its attributable recurring net income stood at US$89m.
Philippines’ First Gen posts 5% recurring net income growth
Its net income stood at US$265m.
First Gen’s net income down 8% YoY to $194m in first 9 months
The result was due to lower earnings in natural gas.
First Gen unveils LNG storage unit ‘BW Batangas’ in the Philippines
It will provide for the company’s gas-fired power plants.
Philippines’ First Gen net income drops 13% in H1
This is despite a 21% growth in revenue.
First Gen income slips to $78m in Q1
The company linked this to a decline in its natural gas and geothermal platforms.
First Gen’s earnings flatten in 2021
The company earned US$252m in recurring net income during the year.
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