First Gen Corporation, under the leadership of the Lopez Group, anticipates a surge in renewable energy (RE) capacity of approximately 400 megawatts (MW) from its hydropower ventures in Nueva Ecija by 2028.
In a Business World report, First Gen Senior Vice-President Dennis P. Gonzales said this capacity will stem from the 132-MW Pantabangan-Masiway hydroelectric power plant (HEPP), the 165-MW Casecnan HEPP, and the projected 100-120-MW Aya pumped-storage hydropower project.
Gonzales further added that the entire complex can produce 400 MW of renewable hydro capacity and it can aid in the country’s power requirements.
Earlier, the Power Sector Assets and Liabilities Management Corporation (PSALM) and the National Irrigation Administration (NIA) transferred the operations of the Casecnan hydro facilities to First Gen’s subsidiary, Fresh River Lakes Corporation (FRLC).
In May 2023, FRLC secured the rights to operate the Casecnan hydro facilities through a winning bid of $526 million from PSALM, surpassing the minimum bid price of $227.27 million.
The Casecnan Hydro plant operates as a run-of-river type of power facility, generating energy by diverting water from the Casecnan and Taan rivers through a 26-kilometer-long tunnel.
Meanwhile, the 132-MW Pantabangan-Masiway HEPP is under the ownership of First Gen Hydro Power Corp., another subsidiary of the Lopez-led energy giant.