Philippines’ energy group Prime Infra has reached the financial close of its PHP50bn (US$850m) transaction to acquire and operate the gas assets of clean energy provider First Gen in Batangas City, in the Philippines (Prime Infra press release, 17/11/2025).
- With this financial close, Prime Infra now owns a 60% controlling stake in the 1,000 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 1,200 MW Santa Maria Power Plant, while First Gen retains a 40% ownership of these gas assets.
- Additionally, Prime Infra now controls 60% of the offshore LNG terminal, with 20% owned by First Gen and 20% by Japan’s Tokyo Gas.
Prime Infra, the infrastructure arm of the Philippines’ Razon Group, invests in, develops, and operates critical assets in essential sectors such as energy, water, and waste management.
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