Owing to profit contribution of its all-renewable energy (RE) subsidiary, First Gen Corporation has posted 30-percent hike in its recurring net income to $167 million (or equivalent P9.0 billion) in the first half of the year versus $128 million (P7.0 billion) within parallel period last year.
The next milestones that will prop the company's earnings will be: the commercial operations of its liquefied natural gas terminal at the First Gen Clean Energy Complex in Batangas; the closing and turnover of the 165-megawatt Casecnan hydroelectric power plant that it recently won from the privatization process carried out by state-run Power Sector Assets and Liabilities Management Corporation ; and its 100MW pump storage expansion at Lake Aya that will soon be advancing to construction...
In terms of revenues, the company logged $13 million hike to $1.287 billion within January to June this year versus $1.274 billion in the same period last year. He emphasized that the Lopez group is “looking forward to a number of significant milestones that are expected to happen for the remainder of the year.
Nevertheless, the resulting income of its gas assets declined 5.0-percent to $91 million within this year’s first semester, vis-a-vis $96 million las year.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
30 reported deaths due to Typhoon Egay — NDRRMCMANILA, Philippines — The number or reported deaths linked to Typhoon Egay has risen to 30 after one more death was reported, according to the National Disaster Risk Reduction
Read more »
64 Cordillera towns crime-free from July 30 to August 5LA TRINIDAD, Benguet – Sixty-four municipalities in the Cordillera region and five police stations in Baguio City recorded zero crime incidents from July 30 to August 5.
Read more »
Typhoon, monsoon farm, infra damage pegged at ₧6.5B; death toll reaches 30 | Rex Anthony Naval and Raadee S. SausaThe combined effects of the southwest monsoon along with typhoons “Egay” and “Falcon” has so far caused an estimated P2,944,689,603.82 for agriculture and another P3,631,012,164.44 for infrastructure for a total of P6,575,701,768.26, the National Disaster Risk Reduction and Management Council (NDRRMC) said in an updated bulletin released Monday. In the…
Read more »
For 2023 barangay polls, Comelec pushes through with first-ever mall votingComelec says 14 malls in Metro Manila, Albay, and Cebu are set to participate in the project, which will be a first in the history of Philippine elections.
Read more »
Biden signs law implementing first part of US trade pact with TaiwanUS President Joe Biden signed legislation on Monday implementing the US and Taiwan&39;s "21st Century" trade initiative and issued a statement saying certain sections of the law "raise constitutional concerns."
Read more »