First Gen Corp. and Korea Electric Power Co. (Kepco) may not be able to join forces in bidding for the 40 percent stake in BG Group as this may result in some legal issues, a top First Gen official said. “Although Kepco is a well-respected company, we have to understand what their plans are, and [...]
Posts Tagged ‘First Gen’
Partnership of Kepco, First Gen may not push through (9/13/2010)
Posted in Philippine Star News, tagged First Gen, Investments, Kepco on September 13, 2010 | Leave a Comment »
First Gen gets $142-M term loan facility (9/08/2010)
Posted in Manila Bulletin News, tagged First Gen on September 8, 2010 | Leave a Comment »
Lopez-controlled First Gen Corporation has inked a $142-million 6-year and 7-year term loan facilities arranged by BDO Capital and Investment Corporation as issue manager and sole bookrunner. In a disclosure to the Philippine Stock Exchange (PSE), First Gen noted that the facility was raised from a consortium of foreign and commercial banks composed of Banco [...]
First Gen records $50-M profit from natgas, geothermal plants (8/13/2010)
Posted in Business World News, tagged First Gen on August 13, 2010 | Leave a Comment »
PROFITS OF Lopez-led First Gen Corp. jumped by 158% in the first half due to higher electricity sales and stronger performance of affiliates. In a statement, First Gen said it earned $50 million in the first half of the year, from $19.4 million in the same period last year. Total revenues grew by 24% to [...]
First Gen mulls exercising preemptive rights in BG’s equity sale in First Gas (8/01/2010)
Posted in Manila Bulletin News, tagged First Gen on August 2, 2010 | Leave a Comment »
First Gen Corporation of the Lopez group is seriously considering to exercise its preemptive rights in the planned equity sale of BG Asia plc, its foreign partner in the 1,000-megawatt Sta. Rita and 500-MW San Lorenzo gas-fired plants. “Yes we do have (right of first refusal), I guess at the right time, we will look [...]
Lopez power subsidiary weighs prospects of using nuclear energy (8/01/2010)
Posted in Inquirer News, tagged First Gen, Generation, Nuclear energy on August 2, 2010 | Leave a Comment »
As the government revives plans to use nuclear energy, the Lopez-led First Gen Corp. said it was also considering the prospects of nuclear energy development in the country. In a talk with reporters, First Gen chair Oscar Lopez said it was “not an impossibility” for the company to consider nuclear power. “I guess [nuclear energy] [...]
Lopez to focus on ‘clean’ energy projects (6/04/2010)
Posted in Manila Bulletin News, tagged First Gen, Renewable energy on June 4, 2010 | Leave a Comment »
Alluding to climate change risks as key differentiating factor, the Lopez group laid down plans that future investments in the electric power industry will revolve only around clean energy technologies. “Geothermal power, hydro, solar power, wind power – these are the spaces that we intend to exploit,” Oscar M. Lopez, patriarch of the Lopez group [...]
Lopezes eye geothermal business expansion abroad (5/31/2010)
Posted in Manila Times News, tagged First Gen, Generation on May 31, 2010 | Leave a Comment »
THE Lopez group said it is keen to expand its geothermal investments abroad this year to avoid breaching the generation capacity cap prescribed by the Electric Power Industry Reform Act (EPIRA). Oscar Lopez, First Philippine Holdings Corp. chairman, told reporters that the company is looking at expanding its geothermal business to Chile and Indonesia. “We [...]
First Gen scraps plan to sell stake in Red Vulcan after settling its financial obligations (10/27/09)
Posted in Business World News, tagged EDC, First Gen on October 27, 2009 | Leave a Comment »
LISTED POWER holding company First Gen Corp. of the Lopez group said it has put on hold plans to sell part of its stake in Red Vulcan Holdings Corp. after it was able to refinance its debts. Red Vulcan is the controlling shareholder of listed geothermal giant Energy Development Corp. (EDC). “[Plans to sell are] [...]
