Tag: First Gen

The majority bloc of Lopez, Inc., led by Eugenio Lopez III, has called for an audit of the privately-held family holding firm’s books, escalating tensions over recent high-value transactions involving key energy assets.

A long-simmering family dispute at Lopez Inc. has erupted into a full-blown governance battle, after shareholders aligned with Eugenio Gabriel “Gabby” Lopez III voted to remove Federico “Piki” Lopez as president and chief executive officer of the privately-held investment holding company, citing a breakdown in trust tied to undisclosed multibillion-peso transactions.

First Gen Corp. posted an 8 percent increase in attributable recurring net income for 2025 to USD264 million (P15.2 billion), driven by stronger hydro output and higher electricity sales, as the company accelerates its shift toward renewable energy.

First Gen Corp., controlled by the Lopez family, is acquiring a 40 percent equity stake in pumped storage hydropower portfolio Prime Infrastructure Capital Inc., part of billionaire Enrique Razon Jr.’s infrastructure venture, for P75 billion. 

The Philippine Competition Commission (PCC) has cleared the planned energy deal with First Gen Corp., giving the power firms the regulatory go-ahead to form...