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First Gen ropes in Siemens for natural gas power project

First Gen Corp., through subsidiary First NatGas Power Corp., inked engineering and procurement as well as operations and maintenance deals with the Siemens group for the first of the three units of the $600-million San Gabriel combined cycle natural gas-fired power plant project.

Posted: December 17th, 2013 in Headlines | Read More »

First Gen nets $118.2M as of Sept., down 21%

Lopez-led First Gen Corp. posted a 21-percent decline in its net income to $118.2 million in the first nine months of the year, from $150 million a year ago.

Posted: November 16th, 2013 in Headlines | Read More »

First Gen raises $250M from bond offer

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First Gen Corp. (First Gen) said Thursday it successfully closed its $250 million 10-year bond issue, which will support the company’s power ventures.

Posted: October 11th, 2013 in Headlines | Read More »

UK firms plan to expand in PH

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Big names in the Philippine mining and energy sectors are in discussions with British firms offering a range of products and services from consultancy to power plant safety equipment as well as renewable energy technology.

Posted: September 29th, 2013 in Headlines | Read More »

Stocks of Lopez firms suffer selldown

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Lopez-led First Gen Corp. has shut down a unit of its 500-megawatt San Lorenzo natural gas-fired power plant in Batangas, in the process halving its capacity, after a fire broke out at one of its transformers early Tuesday morning.

Posted: May 28th, 2013 in Editor's Pick,Headlines | Read More »

First Gen starts work on $1.26B worth of gas, hydro facilities

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First Gen Corp. has started preliminary work to prepare for the construction of $1.26 billion (roughly P51.7 billion) worth of natural gas facilities and hydropower plants.

Posted: May 6th, 2013 in Latest Business Stories | Read More »

In ’12, First Gen income reached $186.1M

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The net income of First Gen Corp. of the Lopez Group surged last year to $186.1 million, from $35 million registered in 2011, on the back of the strong performance of its power assets.

Posted: March 15th, 2013 in Editor's Pick,Headlines | Read More »

2 Lopez energy firms boost capex budgets

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Energy Development Corp. is beefing up its investments this year to P32 billion, up from the P22 billion it initially announced, to fund the construction of priority power projects.

Posted: March 4th, 2013 in Latest Business Stories | Read More »

First Gen sets aside $2B for projects

First Gen Corp. of the Lopez group has set aside close to $2 billion (roughly P82 billion) to put up natural gas and hydropower projects over the next five years, in anticipation of the country’s need for additional capacities.

Posted: February 7th, 2013 in Headlines | Read More »

First Gen reports surge in 9-month net income

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MANILA, Philippines—Lopez-led First Gen Corp. reported a surge in its net income to $147 million in the first nine months of 2012 from only $10.1 million a year ago.   In a filing with the Philippine Stock Exchange, First Gen attributed the profit growth to the higher earnings contributed by affiliates Energy Development Corp., currently [...]

Posted: November 16th, 2012 in Latest Business Stories | Read More »

Lopez unit signs $420M loan deal with 7 banks

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Lopez-led FGP Corp., a wholly owned subsidiary of First Gen Corp., on Thursday signed a $420-million, 10-year loan facility with seven banks to refinance debts and help fund the proposed 500-megawatt San Gabriel natural gas power project.

Posted: October 5th, 2012 in Headlines | Read More »

First Gen posts $92.8M in H1 net income

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First Gen Corp. said its net income attributable to equity holders of the parent company hit $92.8 million in the first half, a reversal of the $16 million in attributable net loss it recorded in the same period last year.

Posted: August 16th, 2012 in Headlines | Read More »

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