First Gen scales down investment in Prime Infra hydro portfolio to P61.9B - BusinessWorld Online

First Gen scales down investment in Prime Infra hydro portfolio to P61.9B - BusinessWorld Online

FIRST GEN CORP. has scaled down its planned investment in the pumped storage hydropower portfolio of Razon-led Prime Infrastructure Capital, Inc. (Prime Infra) to P61.88 billion from the P75 billion previously announced. Under the revised definitive agreements executed on March 6, the Lopez-led power company will now acquire a 33% equity interest in the portfolio, a reduction from the 40% stake originally disclosed in February. This adjustment i…