First Gen cuts hydropower stake to 33% in revised Prime Infra deal

MANILA, Philippines – Lopez-led First Gen Corporation has scaled down its planned hydropower investment with Prime Infrastructure Capital Inc., while retaining contentious provisions now at the center of a family feud. From an earlier 40-percent deal, First Gen will now take only a 33-percent stake in Prime Infra’s pumped storage portfolio.   READ:lopez-feud-first-gen-explains-nitty-gritty-of-razon-hydro-deal In a disclosure on Monday, First Gen said the revised transaction was valued at about P61.9 billion, covering stakes in entities behind the Pakil and Wawa hydro projects.   These projects include the 1,400-megawatt (MW) Pakil facility in Laguna and the 600-MW Wawa project in Rizal, both under development.   […]... Keep on reading: First Gen cuts hydropower stake to 33% in revised Prime Infra deal

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