First Gen's hydro unit bags $119.13m loan

Three major banks provided the financing.

First Gen Corporation has announced the signing of loan agreements with three major Philippine banks for a total amount of $119.13m (PHP7b) which will be used to support its hydropower unit.

In a bourse filing, the company said the loans were granted by BDO Unibank, Inc., Bank of the Philippine Islands, and Rizal Commercial Banking Corporation. These will be utilised for First Gen Hydro Power Corporation’s (FG Hydro) general corporate requirements.

FG Hydro owns and operates the 132 megawatt (MW) Pantabangan-Masiway hydroelectric power plant located in Nueva Ecija.

“Hydroelectric plants play a crucial role in our country’s energy security and decarbonization goals. This financing will enhance our capability to offer a competitive portfolio of clean energy to the nation,” said First Gen CFO Emmanuel Singson.

$1 = PHP58.76

Follow the link for more news on

First Gen Corporation

Also Read

ADB inks $820m loan for 12 renewable energy projects in Thailand

Jinko Power reaches financial close for 400 MW solar project in Saudi Arabia

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit