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First Gen Corp Rejects Geothermal Unit Sale
21 Sep
Summary
- First Gen Corp denies plans to sell its geothermal unit.
- Energy Development Corp is the unit in question.
- Only one firm, Barito Renewables, expressed interest.
Philippine power producer First Gen Corp announced on Monday that it has no intentions of divesting its geothermal unit, Energy Development Corp (EDC).
The company confirmed that PT Barito Renewables, an Indonesian energy firm, is the only entity that has expressed interest in a potential acquisition of EDC. This clarification comes in response to market speculation regarding the future of First Gen's geothermal assets.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
