FGP Corp

FGP owns and operates the 500-MW San Lorenzo combined-cycle natural gas-fired power plant, located west of and adjacent to the Santa Rita plant. The San Lorenzo power plant project was developed, financed and constructed by FGP Corp. FGP was established in July 1997.

First Gen owns 60 percent of FGP through its wholly owned subsidiary, Unified, while BGEH owns 40 percent.

The San Lorenzo plant was built by a consortium led by Siemens AG under a fixed-price, turnkey EPC Contract. O&M of the plant, as with Santa Rita, is performed by SPO. Fuel supply is covered by a 22-year GSPA with the Malampaya consortium.

The San Lorenzo plant commenced commercial operations in October 2002 using Malampaya natural gas. San Lorenzo also sells electricity to Meralco under a 25-year PPA.

Critical to the success of both the Santa Rita and San Lorenzo projects was the construction of an on-shore natural gas transmission pipeline that would transport Malampaya gas to both Santa Rita and San Lorenzo from Shell's natural gas facility in Tabangao. FGP took on the responsibility to construct this pipeline, the first of its kind in the country.