{"id":330344,"date":"2024-11-12T08:51:43","date_gmt":"2024-11-12T00:51:43","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330344"},"modified":"2024-11-12T08:51:48","modified_gmt":"2024-11-12T00:51:48","slug":"trade-the-news-fgen-to-power-waltermart-malls","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-fgen-to-power-waltermart-malls\/","title":{"rendered":"Trade the News: FGEN to power WalterMart malls"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>First Gen Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>FGEN<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 30.80<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

First Gen Corp. (FGEN) and the WalterMart Group finalized another agreement for the development of seven new solar power plants in more WalterMart mall locations in Luzon.<\/p>\n\n\n\n

The construction of the solar power plants, which have a combined 11.4-megawatt-peak (MWp) capacity, forms part of the mall chain\u2019s multi-phased program to get a substantial portion of its electricity from a clean energy source.<\/p>\n\n\n\n

Officials from WM Shopping Center Management Inc. (WMSCMI), the developer of the WalterMart chain of malls, and First Gen and sister company Pi Energy Inc., announced their deepening partnership after the completion of seven solar or photovoltaic (PV) power systems in WalterMart malls in Central Luzon and Southern Luzon.<\/p>\n\n\n\n

These additional solar-powered WalterMart malls are located in Candelaria, Quezon; Subic, Zambales; San Fernando City in Pampanga; Gapan, Nueva Ecija; Nasugbu, Batangas; Bulacan; and Antipolo City in Rizal.<\/p>\n\n\n\n

WMSCMI has 41 community malls around the Philippines with a total solar capacity of 12.3 MWp. These 25 malls will have solar power systems with 27-MWp capacity by the end of the year.<\/p>\n\n\n\n

The projects are part of the company\u2019s program to source 20 percent of its power requirements from solar energy by the end of 2025.<\/p>\n\n\n\n

\u201cOne of the things we\u2019re really proud of is joining the bandwagon of sustainability, creating a future for our next generation, and not using unnecessary fossil fuel that ultimately damages the environment and the ground,\u201d said WalterMart chairman Abraham Uy.<\/p>\n\n\n\n

WalterMart first tapped First Gen and Pi Energy in 2019 with the installation of a solar power facility atop a WalterMart mall carpark building in Nasugbu, Batangas.<\/p>\n\n\n\n

\u201cIn a span of five years, our partnership has grown in terms of scale and investment, and that shows the level of commitment of WalterMart to integrate renewable energy into its operations. We have on-going installations in additional WalterMart malls that we hope to energize by the end of the year,\u201d said Mark Malabanan, Pi Energy assistant vice president for solar and key partners\u2019 growth.<\/p>\n\n\n\n

The country\u2019s largest renewable energy solutions provider, First Gen is a subsidiary of First Philippine Holdings Corp. It has the largest portfolio of power plants that use clean and renewable energy.<\/p>\n\n\n\n

(News Source: Manila Standard<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330344","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330344"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330344\/revisions"}],"predecessor-version":[{"id":330346,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330344\/revisions\/330346"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}