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First Gen's Fresh River Lakes cleared to acquire Casecnan hydro power plant in the Philippines

( February 6, 2024, 09:04 GMT | Official Statement) -- MLex Summary: Fresh River Lakes, a subsidiary of First Gen corporation, owned by the Philippines' Lopez conglomerate, has been cleared to acquire the state-owned Casecnan Hydroelectric Power Plant in Nueva Ecija province for $526 million. The Philippine Competition Commission said the deal is in line with the government plan to privatize energy assets and liquidate all financial obligations of state-owned National Power Corporation.The full statement follows: ...

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