Author Topic: PSE Stock: FIRST GEN CORP (FGEN) (Read 7290 times)

spidermannn · « **Reply #45 on:** May 02, 2012, 11:41 AM »

maka FGEN talaga col
https://www.citiseconline.com/final2/research/downloads/2012-05-02-PH-D.pdf

vgal0579 · « **Reply #46 on:** May 07, 2012, 09:09 AM »

First Gen open to sourcing gas abroad should Malampaya fail Sta. Rita plant

LOPEZ-LED First Gen Corp. is mulling the importation of the liquefied natural gas (LNG) to fuel its power plants, an official said in an interview last week.

The company said it will have to secure another source for natural gas if the Malampaya natural gas project runs out.

“Our contracts [with Malampaya] expire in 2024 but our Sta. Rita and San Lorenzo plants will still be operational and in fact we still have a contract to deliver power to [Manila Electric Co. (Meralco)],”said First Gen President Francis Giles B. Puno in an interview.

“What will happen is that either we have to be certain that there’s more gas in Malampaya or five years before the expiration period we should have already contracted replacement gas,” Mr. Puno said.

He added the firm is open to sourcing natural gas from the Reed Bank where large amounts of gas potential was discovered or it would have to rely on the LNG infrastructure being built by the government.

First Gen, through its subsidiary First Gas, operates the 1,000-megawatt (MW) Sta. Rita power plant and the 500-MW San Lorenzo power plant which provides electricity to Meralco.

The company is considered a “green” company and prefers to invest in clean technology power plants like natural gas.

The Malampaya natural gas project is located in service contract 38 in offshore Palawan.

It is run by a consortium composed of Shell and Chevron Malampaya LLC, each with 45%, as well as the Philippine National Oil Co.- Exploration Corp. which has a 10% stake.

It has an estimated 3 trillion cubic meters of gas.

Mr. Puno said the company’s planned San Gabriel natural gas power plant is dependent on the availability of natural gas.

“What I understand is there’s more gas available so we’re talking to the Energy department and Shell Philippines Exploration B.V.,” Mr. Puno said.

“For us, there’s a need for more investment in power generation but the constraint of gas, unlike in the case of coal, you can’t import it then just build a handling facility. San Gabriel is primarily driven by gas availability,” said Mr. Puno.

San Gabriel will also be run by First Gas.

First Gas is a joint venture between First Gen and BG Holdings, Inc., a subsidiary of British Gas.

British Gas earlier said it will be selling its stake in First Gas but has not yet chosen a final buyer. First Gen has a right of first refusal in British Gas’ stake.

Mr. Puno said another issue with the San Gabriel project is the refusal of British Gas to further expand its holdings in the Philippines which means it may not participate in the funding for San Gabriel.

First Gen’s attributable net income to parent in 2011 declined by 50.1% to $35 million from $70.2 million at the end of 2010.

The drop was attributed to the lower income contribution of the Energy Development Corp. -- Emilia Narni J. David

vhinsent08 · « **Reply #47 on:** Jun 20, 2012, 08:37 PM »

http://www.pse.com.ph/resource/disclosures/2012/pdf/dc2012-4691_FGEN.pdf

tibaktrader · « **Reply #48 on:** Jul 24, 2012, 11:22 PM »

News on FGEN:

http://www.interaksyon.com/business/38427/first-gen-cuts-off-power-to-pantabangan-on-unpaid-debts

"MANILA - First Gen Corp. has cut off power to the municipality of Pantabangan in Nueva Ecija, which hosts a hydroelectric power plant that the company owns, after the electric cooperative failed to honor its obligations.

Dennis P. Gonzales, vice president of hydro unit First Gen Hydro Corp., said the company was forced to cut off electricity to the Pantabangan Municipal Electric Services on Monday.

PAMES owes First Gen some P80 million in unpaid power bills since 2008.

"We are duty bound to ensure the continuing viability of our operations for the benefit not only of our stakeholders, but our other paying customers," Gonzales said.

The power firm's 132-megawatt Pantabangan-Masiway hydro plant has been supplying power to PAMES, which is run by the Pantabangan municipal government, since December 2006, despite the expiration of the two parties' supply agreement in December 2008.

First Gen acquried the Pantabangan-Masiway hydro plant from the government during a November 2006 aution.

To help settle the utility's arrears, First Gen and PAMES inked a restructuring agreement last March in accordance with payment schedules, which the municipal government proposed.

"But when they failed to perform their obligations under the restructuring agreement, we were constrained to act decisively. We have continuously expressed our willingness to assist PAMES in looking for an alternative source of their power supply. We are also looking at ways to provide temporary power to some public schools in Pantabangan, in the meantime," Gonzales said. "

vgal0579 · « **Reply #49 on:** Jul 30, 2012, 10:57 AM »

First Gen, Phinma to pursue RE projects

First Gen Corp. of the Lopez family and Trans-Asia Oil and Energy Development Corp. of the Phinma group are pushing through with their renewable energy projects worth P27 billion following the issuance of the feed-in-tariff (FIT) rates last week.

First Gen president Francis Giles Puno told the Inquirer that the company intended to pursue the 86-megawatt Burgos wind power project in Ilocos Norte given a FIT rate of P8.53 a kilowatt-hour (kWh), which was lower than the P10.37 a kWh applied for by the National Renewable Energy Board.

The Burgos wind farm will be undertaken by the company’s affiliate, Energy Development Corp., which has allocated earlier this year an initial P6-billion budget to fund the construction of the Ilocos wind farm. It was estimated that EDC might have to spend $2.5 million to $3 million to produce a megawatt of wind power, or as much as $258 million (P11 billion) for the 86-MW wind project.

First Gen, according to Puno, was also pushing through with its planned run-of-river hydropower projects in Mindanao. Priority has been placed on two projects worth a combined P10 billion—the 30-MW Puyo project in Agusan del Norte and the 23-MW Bubunawan project in Bukidnon.

The other Mindanao hydropower projects in the pipeline are expected to be put up in Cabadbaran, Agusan Norte; and Tumalaong River and Tagoloan River, both in Bukidnon.

For hydropower projects, the Energy Regulatory Commission issued a FIT rate of P5.90 a kWh, which was slightly lower than the P6.15 sought by the NREB.

Puno, however, noted that the government still needed to thresh out certain policies that would allow more seamless operations by companies embarking on renewable energy projects.

“The approval of the rates is very helpful but we will still need to clarify the implementation of billing and collection,” he pointed out.

Separately, Trans-Asia Oil president Francisco Viray told the Inquirer that they were also looking to push through with the P6.5-billion 54-MW Guimaras wind farm after having delayed the project for several years due to the absence of the FIT rates. The company, Viray added, would also start mobilizing within the year and start the activities related to the construction of the wind farm.

Trans-Asia Oil has a total of 12 wind service contracts, which account for the bulk of its portfolio with an estimated 400 MW in combined capacity.

Viray earlier said that the company was expected to spend $1 billion for a 400-MW portfolio, based on the general rule that at least $2.5 million would be needed to produce a megawatt from a wind-farm project.

The FIT rates are highly crucial for any renewable energy as these will help determine the financial feasibility of a project. These rates assure developers putting up renewable energy facilities of fixed cash flow for a 20-year period.- A Remo

tibaktrader · « **Reply #50 on:** Oct 01, 2012, 01:30 PM »

News on FGEN:

***

First Gen still keen on 3 new projects

MANILA, Philippines - Lopez-led energy producer First Gen Corp. is still keen on pursuing joint venture partnerships involving coal, hydroelectric and natural gas technology, an executive said.

First Gen chairman and CEO Federico Lopez, said in an interview, that the company is still interested to buy a minority stake in the $700-milllion expansion of the Pagbilao coal-fired power plant in Quezon province.

“That is still there. That is still alive,” Lopez said.

The joint venture of Japanese firms Tokyo Electric Power Co. and Marubeni Corp., and the Aboitiz Power Corp. is planning to increase the generating capacity of the Pagbilao power plant by 400 megawatts (MW).

First Gen is also looking to put up the San Gabriel natural gas-fired power project in Batangas.

“For San Gabriel, we have been pursuing that on our own so far but we are open to partners who can make it happen,” Lopez said.

In August, First Gen announced that it is in talks with Pangilinan-led Meralco Powergen Corp. for the 300 to 500 MW San Gabriel power project.

“At the same time, we have always been ready to do it on our own,” Lopez said.

Meralco Powergen’s possible deal with First Gen is part of the company’s plan to reach a generation capacity of 2,500 MW from now until 2020.

Meanwhile, First Gen will still join the Department of Energy’s bidding of service contracts for run-of-river hydropower projects despite delays.

“We have teams that are constantly looking at all those,” Lopez said.

The DOE will auction around 40 mini-hydropower projects late this year instead of the previous target of third quarter.

The mini-hydropower and the Pagbilao expansion forms part of First Gen’s target of increasing its portfolio by an attributable capacity of 400 to 500 MW in the next two to three years, Lopez said.

“San Gabriel has always been there. That is probably on top (of the 400 to 500 MW),” Lopez said.

Lopez said the company expects its income to surge to $150 million.

In the first half, the power producer recorded $92.8 million in net income attributable to equity holders of the parent firm, turning around from a $16-million net loss a year ago due to profit contributions from its operations.

First Gen initially targeted to triple its full year earnings from $35 million last year.

“A big chunk of income is ancillary services that you cannot tell when it will be on,” Lopez said.

In May, First Gen bought the remaining 40-percent stake of the BG Group in First Gas Holdings Corp. for $360 million.

First Gen now owns 100 percent of First Gas, which owns and operates the 1,000-MW Sta. Rita combined-cycle natural gas-fired power plant and the 500-MW San Lorenzo natural gas power plant.

To date, First Gen and its units have a gross generating capacity of 2,763 MW, of which 1,500 MW is natural gas, 1,129 MW is geothermal and 134 MW is hydropower. It accounts for 18 percent of the country’s total installed power generation capacity.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=854562

Senyor · « **Reply #51 on:** Dec 04, 2012, 04:06 AM »

December 4, 2012 Tuesday

First Mover Benefits to pioneer renewable and alternative energy power generator.

vhinsent08 · « **Reply #52 on:** Dec 04, 2012, 02:28 PM »

Quote from: Senyor on Dec 04, 2012, 04:06 AM

December 4, 2012 Tuesday

First Mover Benefits to pioneer renewable and alternative energy power generator.

been wondering sa FGEN . as of the moment im gaining 39.47%

one of my indicator na mag sell na ako.... I need more info!! ; - )

pmtmember · « **Reply #53 on:** Mar 05, 2013, 05:32 PM »

We might have a technical rebound for FGEN after we have a Harami Pattern today. This pattern shows two candlesticks where the first candlestick is a large red and followed by a green one which is contained within the large one. This suggests that there is a sign of disparity on the stocks health. While we have the bad news that causes the downtrend and heavy selling as reflected by the large red candlestick it is followed by a green one which shows that the power of the bears are diminishing.

Since this pattern has a low reliability, we need to have a confirmation tomorrow via gap up or large green candlestick. RSI has a green light for buyers.

Be careful, this could also be a bull trap.

Caveat!

Harami Pattern on FGEN

pmtmember · « **Reply #54 on:** Apr 24, 2013, 06:18 PM »

FGEN is again at the 38.2% Fibonacci Retracement level (support level) Previous visit at this level proved that the support line is strong as price bounce after that. Will it be the same this time? Looks like the aim to close the gap above is far-fetched as of this time.

Caveat!

FGEN at the mercy of 38.2% Fibonacci Retracement support line

vicces · « **Reply #55 on:** Apr 24, 2013, 07:08 PM »

Maybank ATR has just upgraded FGEN to a BUY..

mikoangelo · « **Reply #56 on:** Apr 24, 2013, 07:12 PM »

^alam na

di ko nga napapansin fgen...mukhang pwede na ngang pagkakitaan

Tradertactics · « **Reply #57 on:** May 11, 2013, 06:08 PM »

Mababa na nga si FGEN pero ingat lang.. Stock is trading at a make or break support of P22.00. If it breaks P22.00, it can go down to P20-P21. Stock formed a head and shoulders pattern