First Gen to spend $530 million for capex

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First Gen confirmed on Thursday that it expects to spend $530 million or around P25.4 billion in capital expenditures this year.

In a disclosure to the stock market, the clean energy firm said the capex will be primarily driven by Energy Development Corporation ; the Liquified Natural Gas Terminal Project to be located in the First Gen Clean Energy Complex in Batangas City; and the Aya Pumped Storage Project in Pantabangan, Nueva Ecija.

This figure also includes the CAPEX for the development of EDC’s 3.6MW Mindanao 3 and 29MW Palayan Bayan projects.

 

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