Citadines Bacolod City has partnered with First Gen Corp., the country’s leading renewable energy company, to supply geothermal power for one of the city’s largest hotels.
The Lopez family-led power firm First Gen Corp. posted a 4 percent drop in recurring net income to $77 million (P4.49 billion) in the first quarter of 2025, down from $81 million (P4.52 billion) in the same period last year.
The Chioson Group of Companies and FLB Prime Holdings Inc., a Cebu-based steel manufacturer and property developer, have renewed their partnership with First Gen Corp. for the direct supply of renewable energy to power their facilities in Cebu.
The renewable power will energize all four manufacturing facilities and a technology center operated by Sanyo Denki Philippines inside the Subic Technopark, part of the Subic Bay Special Economic and Freeport Zone.
Under the deal, First Gen—through its subsidiary Energy Development Corp. (EDC)—will supply 2.6 megawatts (MW) of green power from the Mindanao Geothermal Power Plant in North Cotabato.
The Lopez family-led First Gen Corp. posted a 12 percent drop in attributable recurring net income to 245 million (P14 billion) in 2024, down from 277 million (P15.4 billion) last year, as higher borrowing costs and weaker geothermal performance weighed on results.
Oakridge Realty Development Corp. (ORDC), the owner and developer of Oakridge Business Park in Mandaue City, Cebu, has strengthened its partnership with First Gen Corp. through a new agreement to install a 638-kilowatt-peak (kWp) rooftop solar power system at the business park
Tokyo Gas Co. Ltd.,, Japan’s largest natural gas utility company, has completed its acquisition of a 20-percent stake in FGEN LNG Corp., a subsidiary of First Gen Corp.