BDO Unibank has led a ₱50-billion financing deal that allowed Prime Infra to acquire a 60 percent controlling stake in the gas assets of First Gen Corporation, marking one of the country’s biggest energy transactions in recent years.
BDO funded 60 percent of the total loan under a 10-year facility. Its subsidiaries also played key roles, with BDO Capital & Investment Corporation acting as mandated lead arranger, and BDO Trust Investments Group serving as facility agent and collateral trustee.
Prime Infra President and CEO Guillaume Lucci said the investment supports efforts to expand the country’s natural gas infrastructure, strengthen energy security, and support the transition to cleaner and more reliable power.
BDO Capital president Ed V. Francisco said the deal underscores BDO’s commitment to financing major infrastructure projects that support national development and the evolving energy sector.
Prime Infra said the acquisition is a major step in building out the country’s natural gas value chain, in partnership with First Gen, to deliver greater value to consumers.
The gas assets include the Clean Energy Complex in Batangas, which has more than 2,000 megawatts of generation capacity. The complex supports the government’s goal of increasing the share of renewable energy to 35 percent by 2030 and 50 percent by 2040 under the Philippine Energy Plan 2023–2050.
