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Lopez majority reiterates concerns over First Gen-Prime Infra deal

LOPEZ Inc.’s majority bloc on Wednesday renewed its objections to First Gen Corp.’s reduction of its stake in Prime Hydropower Energy Inc. (PHEI) to 33 percent from 40 percent, cla...

News Desk

Staff Writer

Published

Jun 25, 2026

Source

The Manila Times

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Lopez majority reiterates concerns over First Gen-Prime Infra deal

AI Insight:The deal's approval hangs in the balance as Lopez's majority bloc continues to express reservations about First Gen's reduced stake in Prime Hydropower Energy Inc.

LOPEZ Inc.'s majority bloc on Wednesday renewed its objections to First Gen Corp.'s reduction of its stake in Prime Hydropower Energy Inc. (PHEI) to 33 percent from 40 percent, claiming it could compromise the project's efficiency and profitability. The move is part of a larger restructuring effort by First Gen, which aims to consolidate its assets and strengthen its financial position. However, the Lopez bloc is concerned that the reduced stake could lead to a loss of control and decision-making authority, potentially undermining the project's long-term viability. The bloc has called for a thorough review of the deal, citing concerns about the potential impact on the project's operational and financial performance. The outcome of this dispute will have significant implications for the future of the Prime Hydropower Energy Inc. project, which is a critical component of the country's renewable energy infrastructure.