First Gen Corp., a major power producer under the Lopez-led First Philippine Holdings (FPH) group, has acquired full ownership of Pi Energy Inc. for ₱1.006 billion. The deal, announced Monday, involves the purchase of 210,330 common shares and 2,781,764 preferred shares previously held by its parent company, FPH.
The strategic acquisition aligns with the conglomerate’s goal to consolidate value-added and decarbonization services under First Gen’s platform. “The transaction is expected to generate synergies and value-accretive returns for First Gen’s shareholders,” the company said in a statement, highlighting its role in optimizing FPH’s business portfolio.
Pi Energy offers integrated energy solutions such as solar rooftop systems, microgrids, energy audits, and real-time energy monitoring. One of its recent projects includes a partnership with Sanyo Denki Philippines Inc. for a remote energy monitoring system to improve power efficiency.
First Gen generates 3,668 MW of power, with 1,651 MW coming from renewable sources. It is pursuing an ambitious expansion to reach 13,000 MW by 2030, supported by a projected $20 billion investment in clean energy projects.
