Fgp Corp. (Pasig City) (Philippines)

Fgp Corporation (FGP) is an independent power producer in the Philippines and a subsidiary of First Gen Corporation under the First Philippine Holdings and Lopez business group. The company owns and operates the 500-megawatt San Lorenzo combined-cycle natural gas-fired power plant located in Batangas, south of Manila, which is one of the major gas-fired generating facilities in the Luzon grid. The San Lorenzo facility comprises two combined-cycle generating blocks using Siemens gas turbines and steam turbines, and is designed for high-efficiency baseload and mid-merit operations. FGP sells most of its electrical output under a long-term power purchase agreement with Manila Electric Company (Meralco), providing reliable supply to industrial, commercial, and residential consumers in the franchise area through the grid. The plant sources natural gas from the Malampaya gas field via pipeline infrastructure, aligning the company's generation portfolio with cleaner-burning fuel relative to coal and oil-based power plants. Within First Gen's portfolio of natural gas assets, which also includes the Santa Rita, San Gabriel and Avion plants, FGP forms part of an integrated gas power platform supported by ongoing liquefied natural gas (LNG) import and terminal development initiatives aimed at ensuring long-term fuel security. Strategically, FGP focuses on safe, efficient, and environmentally responsible operation of the San Lorenzo plant, prudent financial management including term-loan refinancing and debt optimization, and coordination with its parent group's broader objectives of supporting the Philippine power sector's transition toward lower-carbon and more flexible generation capacity.