First Gen eyes lower 2025 capex

Majority may be used for EDC’s activities.

First Gen Corporation has announced it will be allocating $602.41m (PHP35 billion) for its capital expenditure (capex) next year.

In a bourse filing, the company confirmed that this will be lower than its 2024 allocation at $1.27b.

A chunk, or 90% of the capex will be allocated for Energy Development Corporation’s drilling activities and growth projects pending further evaluation and assessment by the company.