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First Gen Corp. chairman and chief executive Federico Lopez and president and chief operating officer Francis Giles Puno answer questions from the media during the company’s annual stockholders meeting on May 31, 2024 at The Fifth inside the Rockwell Mall in Makati City. Alena Mae S. FloresFirst Gen Corp. of the Lopez Group is allocating $1.27 billion for 2024 capital expenditures , with the bulk going to its geothermal unit Energy Development Corp. , an executive said Friday.
First Gen president and chief operating officer Francis Giles Puno said the seven power projects are being developed by EDC. The bulk of the funding is coming from the P60 billion that the EDC set aside for its capital expenditure program last year.
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