First Philippine Holdings Corporation (FPH) has transferred ownership of Pi Energy, Inc. to its subsidiary First Gen Corporation through a PHP 1.007 billion share assignment, reinforcing the Lopez Group’s strategy to unify its clean energy initiatives under one platform.

The transaction involves 210,330 common shares valued at PHP 210,330 and 2,781,764 preferred shares amounting to PHP 1,006,647,645. The total consideration stands at PHP 1,006,857,975, equivalent to around USD 20 million.

Pi Energy provides energy solutions that include microgrids, rooftop solar, energy audits, remote monitoring systems, and energy efficiency services. Its offerings are geared toward businesses and institutions seeking to cut emissions, reduce power costs, and operate more sustainably.

With the acquisition, First Gen is expected to integrate Pi Energy’s capabilities into its existing decarbonization and distributed energy services portfolio. The company currently operates one of the largest renewable energy portfolios in the Philippines, covering geothermal, hydro, solar, and wind power.

FPH said the move supports its goal to streamline its business holdings and better manage its portfolio.

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