First Gen stands by Prime Infra deal amid Lopez feud

MANILA, Philippines – Independent directors of First Gen reaffirmed support for its multibillion-peso investment in two pumped-storage hydropower projects of Prime Infrastructure Capital Inc. despite ongoing scrutiny linked to the Lopez family feud. In a statement, the directors said they stand by the approval of First Gen’s investment in the 600 MW Wawa and 1.400 MW Pakil projects following an independent review. READ: P50-B ‘premium’ in Lopez-Razon hydropower deal questioned “We stand four-square behind our decision to support both projects,” the independent directors said, noting that the transactions were unanimously approved by the First Gen board. The directors cited projected annual […]... Keep on reading: First Gen stands by Prime Infra deal amid Lopez feud