May 26, 2021 11:40:am
Summary Manila-listed First Gen last month signed a five-year deal with BW Gas for the charter of BW Paris for its LNG import terminal in the Philippines.
by: Shardul Sharma
Floating storage regasification unit (FSRU) BW Paris, which has been chartered by Manila-listed First Gen Corp, can serve as a regional hub that can facilitate LNG use in the Philippines an.
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BusinessWorld
May 26, 2021 | 12:31 am
THE two-day BusinessWorld Virtual Economic Forum 2021 Special Edition starts today with the theme of “The Digital Economy PH: Towards a Faster Economic Recovery.”
The forum, which runs until May 27, gathers top business leaders, government officials and experts to discuss how the coronavirus disease 2019 (COVID-19) pandemic has accelerated the country’s digital transformation and what steps are needed to support its full transition into a “digital economy.”
The lineup of high-caliber speakers is led by Fernando Zobel de Ayala, president and chief executive officer (CEO) of Ayala Corp., who will deliver a keynote speech on the topic “Accelerated by the Pandemic: Digital Transformation as the Way Forward” today.
BusinessWorld
May 17, 2021 | 9:04 am
Special Features Writer
The countryâs energy grid continues to shift away from traditional sources and further to renewable ones. This was highly noticed in the past months as concerns on individual health and environmental welfare heightened amid the coronavirus disease 2019 (COVID-19) pandemic.
Hearing the louder call to harness cleaner sources of energy, both public and private sectors have strengthened their commitments to energize the country through renewables.
On the governmentâs part, the Department of Energy (DoE), through Secretary Alfonso G. Cusi, reaffirmed its commitment last year to develop the countryâs renewable resources in fulfillment of the Renewable Energy Act of 2008.
BusinessWorld
May 14, 2021 | 7:03 pm
First Gen Corp. saw its net income attributable to its parent grow by 29% year on year to P4.01 billion ($84 million) in the first quarter, thanks to higher recurring earnings from its natural gas and renewable energy (RE) portfolios.
In a statement, the Lopez-led power generation company said it generated P3.8 billion ($78 million) in recurring net income in the first three months of 2021, a 21% increase from a year ago’s P3.3 billion ($65 million), “from the operations of its 3,495 MW clean, low-carbon, and renewable portfolio.”
First Gen said it also benefited from new contracts, and lower operating and interest expenses.