BIZ BUZZ: First Gen gets a new look
After downsizing its exposure to gas, First Gen is seeking a fresh identity—this time with a “bolder” approach to renewable energy.
As its subsidiary Energy Development Corp. (EDC) marks its five decades in the power sector, the Lopez-led group has introduced a unified corporate brand with “First Gen Renewables” at the forefront.
The new brand now covers all its power-generating infrastructure, including 28 solar, wind, hydro and geothermal facilities.
Aimed to “reinforce” its dominance, First Gen is all set to double down on renewables expansion, particularly for its crowning glory: geothermal.
“This next chapter will require us to be bolder still—in how we invest, how we collaborate, and how we move forward together,” First Gen president Francis Giles Puno said in a speech in Quezon City.
Puno said that First Gen has so far spent more than P200 billion to pursue exploration, drilling, plant construction, operations and maintenance across its geothermal assets.
These investments have allowed the company to further build up its presence in the geothermal arena with 1,400 megawatts of capacity.
For Puno, strengthening the company’s geothermal footprint would subsequently support solar and wind, as the former provides a reliable and around-the-clock power support.
“And it is precisely for this reason that we are formally positioning EDC geothermal operations as a solid foundation brand under First Gen Renewables,” he said.
Deploying more renewable projects, especially geothermal, is even more highlighted now that the country is facing surging fuel prices, as the war in the Middle East threatens global supply.
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