FIRST Gen Corp. is setting aside $1.27 billion in capital expenditures (capex) for 2024.
FIRST Gen Corp. is setting aside $1.27 billion in capital expenditures for 2024.The funds will mainly be used for the further development of their various renewable energy and natural gas projects, First Gen Chief Finance Officer Emmanuel Antonio Singson said.'The capex is $1.27 billion for this year,' Singson said.'Around $526 million we already paid for the Casecnan hydro plant, while about $670 million is allocated for Energy Development Corp.
Of these, four are geothermal power plants with a combined capacity of 82.6 MW while three are battery energy storage system projects with 40 megawatt-hours of total capacity.'We completed the 29-MW Palayan binary plant, and it just started operating right when there's a need for supply. That's the new capacity that's come in,' First Gen President and Chief Operating Officer Francis Giles Puno said.
Gen To Spend $1.27B This Year For RE Natgas Projects
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