STRATEGIC PARTNERSHIP.

First Gen Corp. signs a strategic partnership with Prime Infrastructure Capital Inc. (Prime Infra), under which the latter will acquire a 60-percent equity stake in the former’s gas business for P50 billion. Under the deal, Prime Infra will own 60 percent of the issued and outstanding capital stock of 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 Power Plant and the proposed 1,200-MW Santa Maria Power Plant. The transaction also includes the Interim Offshore LNG Terminal.