{"id":332253,"date":"2025-04-21T22:39:27","date_gmt":"2025-04-21T14:39:27","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=332253"},"modified":"2025-04-21T22:39:29","modified_gmt":"2025-04-21T14:39:29","slug":"trade-the-news-fgen-eyeing-pumped-storage-solar-projects-rollout-this-year","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-fgen-eyeing-pumped-storage-solar-projects-rollout-this-year\/","title":{"rendered":"Trade the News: FGEN eyeing pumped storage, solar projects rollout this year"},"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 40.30<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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First Gen Corp. (FGEN) is advancing towards its goal of expanding its portfolio to 13 gigawatts (GW) by 2030 as it is working to roll out renewable energy projects this year.<\/p>\n\n\n\n

First Gen targets the implementation of its Aya pumped storage hydropower project in the second half of the year to store and release electricity with a potential capacity between 100 megawatts (MW) and 120 MW, based on its 2024 Integrated Report.<\/p>\n\n\n\n

\u201cThe detailed engineering design for the electromechanical works has been completed, while the design for civil and hydromechanical works is still in progress,\u201d the company said.<\/p>\n\n\n\n

Most of the necessary permits and endorsements have already been secured, paving the way for the next phases of development, it said.<\/p>\n\n\n\n

Located within the Pantabangan-Casecnan complex in Nueva Ecija, the facility was previously estimated to cost P6 billion. The project forms part of the company\u2019s goal to grow its renewable energy portfolio capacity to 9 GW by 2030.<\/p>\n\n\n\n

To further diversify its portfolio, First Gen said it would pursue a first phase 50-MW solar facility in Batangas this year and \u201cto be followed by an additional 100-MW expansion.\u201d<\/p>\n\n\n\n

\u201cFirst Gen\u2019s solar and wind business units will continue to invest in the feasibility of the concessions that were awarded to the company,\u201d the company said.<\/p>\n\n\n\n

\u201cLeveraging on a capability to implement multi-projects on a concurrent basis, the concessions are undergoing prioritization and evaluation, to accelerate projects into the development stage for the solar and wind assets,\u201d it added.<\/p>\n\n\n\n

Currently, First Gen has a total of 3,668 MW of combined capacity from its portfolio of plants that run on geothermal, wind, hydropower, solar energy, and natural gas.<\/p>\n\n\n\n

In an interview last year, First Gen President and Chief Operating Officer Francis Giles B. Puno said the company had set a capital expenditure budget of around P35 billion for 2025. Approximately 90% of this will be allocated to the drilling activities and growth projects of its renewable energy subsidiary, Energy Development Corp.<\/p>\n\n\n\n

For 2024, the company\u2019s attributable net income declined by 19%, totaling $252.92 million, due to lower revenues and higher expenses.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

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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\n\n\n

<\/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-332253","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\/332253","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=332253"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332253\/revisions"}],"predecessor-version":[{"id":332255,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332253\/revisions\/332255"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=332253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=332253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=332253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}