Tovic Salvador

Prime Infra acquires majority stake in First Gen gas business

Article (news)

Benise Balaoing

ABS-CBN News

MANILA — Prime Infrastructure Capital Inc. has closed its P50-billion transaction to acquire and operate the gas assets of First Gen Corp. in Batangas City. This means Prime Infra now owns 60 percent of the 1000-megawatt (MW) Santa Rita Power Plant, the 500-MW San Lorenzo Power Plant, the 450-MW San Gabriel Power Plant, the 97-MW Avion Power Plant, and the proposed 1200-MW Santa Maria Power Plant.In light of these developments, Prime Infra has appointed Jose Victor Emmanuel “Jocot” de Dios as president of Prime CoreGen, the subsidiary that will manage its newly-acquired gas assets.De Dios is the president of Manila Water. Before joining Manila Water, he was undersecretary of the Department of Energy from 2001 to 2004, and later chaired the Philippine National Oil Company – Exploration Corp. (PNOC EC).Replacing De Dios at Manila Water is Roberto Jose “Boj” Locsin, the company&#x27;s chief operating officer for international business.First Gen sold 60 percent of its gas business to the Enrique Razon-led Prime Infrastructure in <a href="https://www.abs-cbn.com/news/business/2025/6/2/first-gen-sells-60-pct-of-gas-business-to-prime-infra-1036" rel="noopener noreferrer" target="_blank">June</a>.<div><a href="https://www.abs-cbn.com/news/business/2025/10/24/competition-watchdog-clears-first-gen-prime-infra-gas-deal-1125" rel="noopener noreferrer" target="_blank">Competition watchdog clears First Gen, Prime Infra gas deal</a></div>

Prime Infra has closed its P50-billion transaction to acquire and operate the gas assets of First Gen Corp. in Batangas City.

Prime Infra has closed its P50-billion transaction to acquire and operate the gas assets of First Gen Corp. in Batangas City.