First Private Power Corp. (FPPC) was established in 1992 to engage in power generation as an independent power producer. FPPC is 40% owned by First Gen. Today, it owns 93.25% of Bauang Private Power Corporation (BPPC).
 
BPPC was incorporated in 1993. It operates the Bauang Power Plant in Bauang, La Union, which is a 225 MW diesel-fired power plant with a Build-Operate-Transfer Agreement with the National Power Corporation for a period of 15 years from July 25, 1995.  The Philippine American Life Insurance Company has direct investments in BPPC.

BPPC maintains its IMS certification for ISO 9001:2000, ISO 14001:2004, and OHSAS 18001 from Certification International.

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