Page 34 - First Gen News Today

Cebu-based steel manufacturer Chioson Development Corp. (CDC) has tapped Energy Development Corp. (EDC) for the supply of 750 kilowatts of renewable energy (RE). EDC will source power from its geothermal facilities to energize CDC’s facilities. The power supply contract is valid until March 25, 2025. “We are delighted to move…

Steel manufacturing company reduces carbon footprint through Geo 24/7

Power utility giant Manila Electric Company (Meralco) is planning to undertake competitive selection process (CSP) for a power supply agreement (PSA) that will replace the capacity of First Gen Corporation if its electricity generation will be continuously crippled by Malampaya gas field’s output re

Kohlberg Kravis Roberts & Co. (KKR) is investing P8.68 billion in First Gen Corp. which will allow the United States-based global investment firm to secure a 19.9-percent ownership stake in the Lopez-owned power firm. KKR announced Wednesday that its subsidiary, Philippines Clean Energy Holding Inc., will buy all 262,937,672 common…

New York-headquartered investment firm KKR & Co. Inc. will be acquiring additional 7.3 percent equity in Lopez-owned First Gen Corporation via a tender offer (TO) transaction worth P8.68 billion or roughly $171 million. The TO covered 262.937 million common shares that were unloaded by the m

A senior executive of Lopez-led First Philippine Holdings Corp. (FPH) has been recognized by a United States-based governance, risk and compliance (GRC) company as one of the world’s top 100 GRC leaders for driving FPH’s efforts toward greater diversity, sustainable practices, and sharper insights for company leadership. Diligent Corp. (Diligent),…

The recurring gas restriction dilemma of the Malampaya field significantly accounted for the higher electric bills paid for by the customers of Manila Electric Co. (Meralco) this year. Meralco said that of the aggregate P1.04 per kilowatt hour (kWh) rate hikes implemented in series this year, ab

THE Independent Electricity Market Operator of the Philippines (IEMOP) had imposed the secondary price cap last week but clarified that the spike in spot market prices had nothing to do with the shutdown of the Malampaya gas facility starting Saturday. According to IEMOP Chief Operating Officer Robinson Descanzo, the P6.245…

Oakridge Business Park reinforces commitment to reducing carbon footprint

Lopez-led First Gen Corporation will be unloading approximately 8.7 percent of aggregate issued and outstanding common shares via a tender offer process that its prospective taker will be applying with regulators soon. In a formal notice, investor Philippines Clean Energy Holdings Inc. (PCEHI) h