First Gen Strengthens Portfolio with Pi Energy Buy
- May 27, 2025
Lopez-led First Philippine Holdings Corp. (FPH) has sold its entire stake in Pi Energy, Inc.—its energy solutions subsidiary—to its power generation company, First Gen Corp., for P1.006 billion.
In separate filings, both FPH and First Gen confirmed that a deed of assignment had been signed for the transfer of 210,330 common shares priced at P1 each, along with 2.78 million preferred shares valued at P361.873 apiece.
The acquisition breaks down into P210,330 for the common shares and approximately P1.006 billion for the preferred shares.
“Given that FGEN is the FPH Group’s platform for delivering value-added and decarbonization solutions, the transfer of Pi Energy to FGEN aligns with the group’s efforts to streamline its business holdings and better manage its portfolio,” the companies said in a joint statement.
Pi Energy specializes in delivering customized energy solutions, offering services that include microgrids, rooftop solar systems, energy audits, remote monitoring, and energy efficiency measures.
Pi Energy recently revealed plans to implement a remote energy monitoring system for Sanyo Denki Philippines. This system will allow the company to track its power usage in real time, helping it better manage and reduce energy costs.
(Also read: First Gen to Supply Clean Energy to Sanyo Denki’s Zambales)
Before the acquisition, Pi Energy was fully owned by FPH, whose business interests span renewable energy, premium real estate, manufacturing, construction, healthcare, and education.
Last week, First Gen’s President and Chief Operating Officer (COO), Francis Giles Puno, expressed optimism about the company’s financial outlook for 2025, noting that capital expenditures are expected to increase significantly this year.
Among First Gen’s recent renewable energy projects are partnerships with the Philippine Stock Exchange (PSE), Axelum Resources Corp., Sanyo Denki Philippines, and Digital Edge, among others.
(Also read: First Philippine Holdings Secures P10-B Loan to Boost Geothermal Expansion)
First Gen generates most of its electricity from a diverse portfolio that includes geothermal, hydropower, wind, and solar energy sources.
Sources:
https://manilastandard.net/business/314591961/fph-sells-pi-energy-to-subsidiary-fgen.html
https://business.inquirer.net/526148/first-gen-takes-over-pi-energy-for-p1b
https://www.pna.gov.ph/articles/1248651
https://mb.com.ph/2025/05/19/fgen-expands-re-portfolio-through-pi-energy-buy-out
