First Gen Corporation (First Gen), a power generation subsidiary of the First Philippines Holdings Corporation, intends to further expand its generation capacity through its plan to invest in a greenfield gas-fired power plant with 500 megawatt (MW) capacity. Chairman and chief executive officer of First Philippines Holdings Corporation, Oscar M. Lopez, disclosed that the plant would be near to 500 MW San Lorenzo gas-fired power plant and First Gen’s 1,000 MW Santa Rita facility.
“That is, if new supplies are made available from the Camago-Malampaya fields or elsewhere,” Lopez added to his statement.
Lopez observed that the acquisition of a majority interest in Energy Development Corporation had permitted First Gen to “have capacity in the Visayas and Mindanao grids, and much larger headroom for expansion in both areas.”
Lopez also said “Where our generating plants were largely natural gas-based, we now also have capacity that is fueled by geothermal energy, a clean and renewable source of power, and by hydroelectric sources”.
Lopez says “In the meantime, we have become the largest Philippine-owned power generating company in the country with a total capacity of generating 2,688 MW all over the country, and our headroom for expansion and growth has considerably been enhanced by our acquisition of EDC”.