First Gen Corp.’s newest hydroelectric power asset is key to expanding the Lopez-led firm’s renewable energy portfolio, company officials said last week.
“Right now, when you look at Casecnan, fundamentally it’s a very important asset for us because we obviously have Pantabangan-Masiway there. We have the plans for project Aya, which is there. So we really needed to make sure that the reservoir is controlled by First Gen,” said Puno. First Gen Chairman Federico R. Lopez said all RE assets are key to achieving a decarbonized energy system.
FRLC’s bid offer of $526 million surpassed the $227.27 million minimum bid price for CHEPP set by the Power Sector Assets and Liabilities Management Corp. .
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