First Gen rules out geothermal unit sale amid takeover speculation
First Gen Corp said it has no plans to divest its geothermal unit, Energy Development Corp (EDC), dismissing takeover speculation. It noted only PT Barito Renewables has expressed interest in a potential acquisition.
Philippine power producer First Gen Corp said on Monday it has no plans to sell its geothermal unit, Energy Development Corp (EDC). First Gen said PT Barito Renewables is the only company that has expressed interest in a possible acquisition of EDC.