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Prime Infra completes P50-B gas asset acquisition from First Gen
Business World Philippines
|November 18, 2025
RAZON-LED Prime Infrastructure Capi- tal, Inc. (Prime Infra) has completed its ac- quisition of First Gen Corp.’s gas assets in Batangas City for P50 billion.
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Prime Infra has completed the financial close for its acquisition of a 60% stake in the 1,000-megawatt (MW) Santa Rita Power Plant, the 500-MW San Lorenzo Power Plant, the 450-MW San Gabriel Power Plant, the 97-MW Avion Plant, and the proposed 1,200MW Santa Maria Power Plant, the company said in a statement on Monday.
The Lopez-led energy company will retain 40% ownership of these gas assets, it said.
With this development, Prime Infra now holds a 60% stake in the offshore liquefied natural gas (LNG) terminals, while First Gen and Japan’s Tokyo Gas each retain a 20% share.
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