15/02/2026
First Gen Corp. and Prime Infrastructure Capital Inc. are deepening their alliance in the local energy sector with a ₱75 billion investment into pumped storage hydropower, a move aimed at stabilizing a grid increasingly reliant on intermittent renewable sources.
The Lopez-led First Gen announced Friday, Feb 13, that it will acquire a 40 percent equity interest in two massive projects currently under development by billionaire Enrique Razon’s Prime Infra. The deal encompasses the 600-megawatt Wawa project in Rizal province and the 1,400-megawatt Ahunan facility in Laguna. Together, the 2,000 megawatts of capacity represent one of the most significant expansions of the country’s energy storage infrastructure to date.
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