MANILA - The Lopez Group has no misgivings about its decision to keep coal-fired power plants out of its portfolio, and instead invest in renewable energy, a scion of the Lopez family said on Monday. Federico ‘Piki’ Lopez, Chairman and CEO of First Philippine Holdings Corp (FPH) and First Gen admitted that shutting the door on coal power in 2016 meant walking away from an opportunity to make a profit, and this was not easy to explain to shareholders and analysts.
Its pursuit to produce 100% clean and renewable energy as it enhances the environment and empowers its stakeholders accorded Lopez-led geothermal power leader Energy Development Corporation (EDC), the honor of being Asia’s Top Sustainability Advocate in the recently concluded 2020 Asia Corporate Excellence & Sustainability (ACES) Awards.
First Gen group on Friday finally signed with McConnell Dowell (MCD) an engineering, procurement and construction (EPC)contract for a liquefied natural gas (LNG) terminal in Batangas province, which they expect to start building within this quarter.
Lopez-led geothermal leader Energy Development Corporation (EDC) has begun providing 20-40 megawatts (MW) of temporary power and food assistance to Albay and Sorsogon today as part of its aid to the Bicol region that was devastated by Super Typhoon Rolly on November 01.