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First Gen allots $530-million capital expenditure for 2021 May 20, 2021 | 12:08 am Reporter FIRST Gen Corp. is allocating $530 million of capital expenditures (capex) this year, with majority going to projects of its geothermal subsidiary Energy Development Corp. (EDC), an official of the firm said on Wednesday. “In 2021, we are expecting to spend about $530M in capital expenditures, mainly driven by EDC, the LNG (liquified natural gas) terminal (in Batangas City), and the Aya Pumped Storage Project (in Nueva Ecija),” First Gen’s Chief Financial Officer Emmanuel Antonio P. Singson said during the firm’s virtual annual stockholders’ meeting on Wednesday. The amount will cover $280 million of funding for EDC’s drilling activities, investments, and binary geothermal projects; $120 million for First Gen’s planned offshore LNG terminal; and $60 million for the 120-MW Aya Pumped Storage in Pantabangan, Nueva Ecija.

France generalBatangas cityNueva ecijaAngelicay yangFedericor lopezFrancis gilesb punoMcconnell dowellEmmanuel antoniop singsonPalayan bayanDepartment of energyGen corpBw gas ltdEnergy development corpEnergy developmentAya pumped storage projectChief financial officer emmanuel antonio