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First Gen seeks ship bids

LOPEZ-LED First Gen Corp. has issued bid invitations to its three preferred providers of a natural gas transfer vessel to be used in its short-term import terminal in Batangas.

First Gen picks LNG terminal builder

LOPEZ-LED First Gen Corp. has chosen the local unit of an Australian contractor to build its interim liquefied natural gas (LNG) terminal in Batangas, while it steps up its partnership with Japan’s Tokyo Gas Co., Ltd.

First Gen halts run of natural gas plant

FIRST GEN Corp. has paused the operation of one of its natural gas-fired plants after an incidence of power tripping.

First Gen expects to start building import terminal for LNG in...

LOPEZ-LED First Gen Corp. is expecting to start building its liquefied natural gas (LNG) terminal project in Batangas in the second half of the year.

First Gen names three LNG storage bidders

LOPEZ-LED First Gen Corp. has picked three foreign firms to participate in a competitive selection process to provide storage and regasification service for its upcoming liquefied natural gas (LNG) import facility in Batangas.

First Gen unit fined for ‘distorted’ supply pricing

THE Energy Regulatory Commission (ERC) has imposed a P1-million fine on a power generation unit of Lopez-led First Gen Corp. for supposedly offering its supply at an “anti-competitive” price.

Singaporean bidder not keen on taking First Gen cash dividend

A SINGAPORE-BASED holding firm buying some shares of Lopez-led First Gen Corp. refused to accept cash dividends in exchange for its offer price.

First Gen shares soar on KKR unit’s offer

FIRST Gen Corp.’s (First Gen)shares surged upon trading resumption on Wednesday, a day after a Singaporean firm submitted to regulators its tender offer to buy almost a tenth of the Lopez-led energy company’s stocks.

First Gen seeks trading halt after Valorous tender offer notice

FIRST GEN Corp. has asked the stock exchange to suspend the trading of its shares on Tuesday after the Lopez-led energy company disclosed its receipt of a tender offer notice from Valorous Asia Holdings Pte. Ltd.

Singapore firm keen on First Gen shares

A SINGAPOREAN firm has informed shareholders of Lopez-led First Gen Co. of its plan to acquire up to 323.81 million shares of the energy firm.

First Gen income down as power demand slips

FIRST GEN Corp. posted a 15% decline in net income attributable to equity holders to $65 million in the first quarter, brought down by lower electricity demand during the Luzon-wide lockdown starting in mid-March.

First Gen watches ‘very low’ LNG prices as PHL prepares to...

THE current low prices of liquefied natural gas (LNG) in the world market are favorable for the Philippines as a future buyer of the imported fuel, an official of Lopez-led First Gen Corp. said.

First Gen board approves capital hike to P13.2 billion

LOPEZ-LED First Gen Corp. said on Tuesday that its board of directors had approved the increase in its authorized capital stock to P13.2 billion from P11.6 billion by creating redeemable preferred shares.

First Gen, PI Energy build solar rooftop of Central Luzon university

FIRST GEN Corp. and its affiliate PI Energy, Inc. have completed the construction of a 1-megawatt (MW) solar rooftop system in the largest and one of the oldest universities in Central Luzon that is aiming to source all its electricity needs from clean and renewable energy.

First Gen nets $54.5 million in July-September

FIRST GEN Corp. reported a third-quarter net income of $54.56 million, down 17.6% from $66.18 million a year ago, despite an increase in the company’s revenues from the sale of electricity.

NIA, First Gen to develop hydroelectric power project

THE National Irrigation Administration (NIA) has signed a memorandum of understanding (MoU) with Lopez-led First Gen Hydro Power Corp. to develop a hydroelectric power project at the Aya Dam in Pantabangan, Nueva Ecija.

First Gen in discussions with at least 20 LNG suppliers

FIRST GEN Corp. is in talks with at least 20 suppliers of liquefied natural gas (LNG) and may consider among the options Tokyo Gas Co., Ltd., one of the oldest companies in the business, with which it is jointly building a receiving terminal for the imported fuel, a company official said.

First Gen looking to expand reach of FSRU to Visayas, Mindanao

FIRST GEN Corp. is looking to expand the reach of its planned floating storage regasification unit (FSRU) for natural gas to the provinces, including those in the Visayas and Mindanao, a company official said on Wednesday.

First Gen picks Japanese firm as EPC contractor for LNG terminal

FIRST GEN Corp. has chosen Japan’s JGC Corp. to handle the engineering, procurement and construction (EPC) of its liquefied natural gas (LNG) terminal project in Batangas City, the Lopez-led company said on Monday.

Power sales fuel First Gen Q2 profit surge

FIRST GEN Corp. increased its net income attributable to equity holders of the parent firm by 87.4% to $84.67 million in the second quarter, as the Lopez-led company recorded a strong growth in its power sales.

First Gen project declared of nat’l significance

FIRST GEN. Corp. said on Thursday that the Department of Energy (DoE) had approved its application to have the company’s liquefied natural gas (LNG) import terminal project declared as nationally significant, making it easier for the company to secure permits.

First Gen wants to get more partners for LNG terminal project

FIRST GEN Corp. is looking to bring in more partners for its liquefied natural gas (LNG) terminal project as it schedules to break ground by month’s end and targets to make a final investment decision by early 2020 in time for a 2024 completion date.

First Gen secures regulator’s go signal to issue P3 billion worth...

FIRST Gen Corp. has secured approval from the Securities and Exchange Commission to increase its authorized capital stock to P11.6 billion from P8.6 billion by creating new preferred shares, the Lopez-led energy company told the stock exchange on Tuesday.

Lopez-led First Gen’s attributable income rises to $221 million in 2018

FIRST GEN Corp. posted a 65% increase in its 2018 net income attributable to the company’s equity holders to $221 million (P11.6 billion), with the added boost from its new gas-fired power plant plus other factors such as lower interest expense, the Lopez-led company told the stock exchange on Wednesday.

DoE panel reviews First Gen’s LNG import terminal

A PANEL at the Department of Energy (DoE) is scheduled to review this week the application of Lopez-led First Gen Corp. to build a liquefied natural gas (LNG) import terminal before the project proposal is submitted to the secretary for final approval.

ArthaLand taps First Gen to supply power to BGC project

ARTHALAND CORP. has tapped Lopez-led First Gen Corp. to supply renewable energy to its office project in Bonifacio Global City (BGC) called ArthaLand Century Pacific Tower (ACPT).

First Gen unit seeks clearance to build LNG terminal

FIRST Gen Corp. said its subsidiary sought clearance from the Department of Energy (DoE) to proceed with the construction of the group’s liquefied natural gas (LNG) import terminal project.

First Gen still seeking more partners for LNG terminal

FIRST GEN Corp. has not ended its search for partners for its planned liquefied natural gas (LNG) terminal after the signing of a joint development agreement (JDA) with Tokyo Gas Co., Ltd., a company official said.

First Gen, Tokyo Gas to develop LNG terminal in Batangas City

FIRST GEN Corp. signed on Wednesday a joint development agreement (JDA) with Tokyo Gas Co., Ltd. to build a liquefied natural gas (LNG) terminal within the Lopez-led company’s power generation complex in Batangas City.

First Gen says power users to save P10B with PNOC gas...

LOPEZ-LED First Gen Corp. said its offer to buy the government’s banked gas at $3.48 per gigajoules could result in savings for electricity users of close to P0.60 per kilowatt-hour (kWh)or a total of around P10 billion for the period starting next month and early 2024, the year when the Malampaya gas-to-power contract ends.

First Gen still keen on buying PNOC’s banked gas

FIRST GEN Corp. is still on buying the Philippine National Oil Co.’s (PNOC) banked gas after the latter did not respond to its earlier offer.

First Gen eyes San Miguel as partner for proposed LNG import...

FIRST GEN Corp. is planning to invite diversified conglomerate San Miguel Corp. “within the year” to participate in its $1.2-billion liquefied natural gas (LNG)...

First Gen targets nearly $200M in recurring profit this year

LOPEZ-LED First Gen Corp. expects its recurring net income in 2018 to reach nearly $200 million, an improvement over last year’s flat growth when...

First Gen aims to select partners for LNG terminal within the...

Lopez-led First Gen Corp. has set a firm schedule for its plan to build a liquefied natural gas (LNG) terminal and regasification facility, including...

First Gen aims to secure more supply deals

FIRST GEN Corp. is aiming to secure power supply contracts for 92% of the capacity it generates this year, an improvement over the 80%...

First Gen still keen on run-of-river hydro projects

By Victor V. Saulon, Sub-Editor FIRST GEN Corp. is not giving up on its plan to build run-of-river hydroelectric power plants as the Lopez-led company...

First Gen posts flat earnings

FIRST Gen Corp. reported “flat earnings growth” for 2017, at $163 million, as the natural calamities that struck Leyte last year hit the performance...

First Gen unit, Meralco ink power supply contract

Lopez-led First Gen Corp. said its unit had entered into a power supply contract with distribution utility Manila Electric Co. (Meralco) for the sale...