First Gen Corporation (First Gen) is a leading clean and renewable energy company in the Philippines with an installed capacity of 2,763-MW.
First Gen was incorporated in December 1998 as the primary holding company for the power generation and energy-related businesses of the Lopez Group. through First Philippine Holdings Corporation (FPH), the parent and controlling shareholder of First Gen.
As of 2013, First Gen has a portfolio of 15 power generation plants that are predominantly contracted for sale under long-term power purchase agrrements or other energy sales agreements. First Gen's power generation portofolio utilize indigenous clean and/or renewable fuels such as natural gas, water and geothermal steam.
The Company's interests, direct and indirect, consist of the following:
- A 100 per cent equity interest in the 1,000-MW Santa Rita natural gas-fired combined cycle power plant;
- A 100 per cent equity interest in the 500-MW San Lorenzo natural gas-fired combined cycle power plant;
- A 40 per cent equity interest or a 69.9 per cent effective economic interest, in the 132-MW Pantabangan-Masiway hydroelectric power plant complex;
- A 100 per cent equity interest in the 1.6-MW Agusan mini-hydro; and
- A 49.8 per cent equity interest in the 11 integrated geothermal and power projects owned by Energy Development Corporation. The projects have a combined capacity of 1,129.4-MW.
Based on data published under Energy Regulatory Commission Resolution No. 3 Series of 2013, First Gen accounted for 17 per cent of the country's total installed power generation capacity.
First Gen ranked 33rd in gross revenues and 52nd in net income among BusinessWorld's Top 1000 Corporations in the Philippines (with consolidated financial statements) in 2011.
As a world-class energy company, First Gen's Management System complies with standards set by the International Organization of Standards (ISO) of Geneva. An ISO 9001:2000 certification for Quality Management was first awarded to the Company in 2004. In 2009, First Gen underwent the rigorous recertification audit conducted on its standards by AJA Registrars (Phils.), Inc., the local affiliate of UK-based independent certification body AJA Registrars Limited. The recertification audit checked First Gen’s conformance with norms set under ISO 9001:2008 (Quality Management System). AJA Philippines completed the recertification audit without finding any nonconformance issues in the ISO processes of First Gen, thereby reaffirming First Gen's adherence to the highest standards set by the ISO.