Directors back First Gen hydro deal

First Gen Corp.

MANILA, Philippines – Independent directors of First Gen Corp. have reaffirmed their support for the company’s investment in two hydropower projects of Prime Infrastructure Capital Inc., saying it would create long-term value for shareholders despite questions raised amid the ongoing Lopez family feud.

In a statement issued on Tuesday, the independent directors said they stood by their earlier decision to approve First Gen’s investment in the 600-megawatt (MW) Wawa pumped-storage hydropower project in Rizal and the 1,400-MW Pakil project in Laguna after conducting what they described as an objective and independent evaluation of the assets.

READ: P50-B ‘premium’ in Lopez-Razon hydropower deal questioned

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First Gen Corp.

READ: P50-B ‘premium’ in Lopez-Razon hydropower deal questioned

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Directors back First Gen hydro deal

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Directors back First Gen hydro deal

Other newsrooms on this story

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