Business groups led by tycoons Federico Lopez and Enrique Razon Jr. have revised the structure of their major hydropower partnership, reducing the size of the stake involved in the deal.
Under the updated agreement, Lopez-led energy firm First Gen will acquire a smaller portion of shares in Prime Hydropower Energy Inc., the company behind several large pumped-storage hydropower projects. The adjustment trims the original arrangement between the two business groups while maintaining their strategic collaboration in renewable energy development.
The hydropower projects involved include major pumped-storage facilities designed to support the country’s transition to cleaner energy. These projects are expected to play an important role in stabilizing electricity supply, particularly as more renewable sources like solar and wind are added to the grid.
Industry observers noted that the revised deal reflects ongoing efforts by both companies to fine-tune investment plans while ensuring the projects remain financially viable. The partnership still represents one of the largest investments in the Philippines’ renewable energy sector.
Despite the scaled-down stake, analysts said the cooperation between the Lopez and Razon groups strengthens the push for energy infrastructure that supports the country’s long-term power needs and renewable energy goals.
