First Gen Hydro Power Corp. expects to finish its 120MW Aya pumped-storage project in the fourth quarter of 2026, the company reported in a filing with the SEC on April 6, Manila Bulletin reports. The facility, located in Nueva Ecija, aims to expand the renewable energy footprint of the Lopez family’s power arm as the Philippines seeks to bolster its energy security through domestic resources.
The Aya plant is designed to augment the existing 132MW Pantabangan-Masiway complex by transferring water between two reservoirs to store and generate electricity. Engineered to use only 0.2% of the Pantabangan reservoir’s volume, the project will provide power without disrupting local irrigation. First Gen Senior Vice President Dennis Gonzales noted the firm is coordinating with the National Irrigation Administration to ensure agricultural water needs are met.
This project is a critical addition to the Philippines’ energy landscape as the country integrates more intermittent renewable sources. Pumped-storage facilities like Aya act as essential giant batteries, providing the flexible peaking power necessary to maintain grid stability when solar and wind outputs fluctuate.
The company is simultaneously developing a hydroelectric pipeline in Mindanao, including the 42MW Puyo, 32MW Bubunawan and 39MW San Isidro run-of-river plants. These assets will add 213MW of flexible capacity to a portfolio that already includes the 165MW Casecnan and 1.6MW Agusan plants.
This expansion follows First Gen’s PHP75bn ($1.33bn) acquisition of a 40% stake in Prime Infrastructure Capital Inc.’s pumped-storage assets earlier this year. That deal includes the Wawa and Ahunan projects, which are expected to contribute a combined 2,000MW by December 30, 2030. First Gen currently operates roughly 1,700MW of renewable capacity across 30 facilities.
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