First Gen allots $530-million capital expenditure for 2021
May 20, 2021 | 12:08 am
Reporter
FIRST Gen Corp. is allocating $530 million of capital expenditures (capex) this year, with majority going to projects of its geothermal subsidiary Energy Development Corp. (EDC), an official of the firm said on Wednesday.
“In 2021, we are expecting to spend about $530M in capital expenditures, mainly driven by EDC, the LNG (liquified natural gas) terminal (in Batangas City), and the Aya Pumped Storage Project (in Nueva Ecija),” First Gen’s Chief Financial Officer Emmanuel Antonio P. Singson said during the firm’s virtual annual stockholders’ meeting on Wednesday.
The amount will cover $280 million of funding for EDC’s drilling activities, investments, and binary geothermal projects; $120 million for First Gen’s planned offshore LNG terminal; and $60 million for the 120-MW Aya Pumped Storage in Pantabangan, Nueva Ecija.
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.
Urges Shareholders to Vote the WHITE Proxy Card “FOR ALL” Four of MIMEDX’s Director Nominees – Dr. Kathleen Behrens, Mr. Todd Newton, Mr. Timothy Wright, and Dr. Phyllis Gardner
Entirely Reconstituted Board and New Management Team Positioned Company for Long-Term Sustainable Growth; Stock Price Appreciation of 237% Since Timothy Wright Selected as CEO
Virtual Annual Meeting to Be Held on May 27, 2021
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