First Philippine Holdings Corporation

What First Philippine Holdings Corporation does

First Philippine Holdings Corporation (FPH) is a diversified Philippine holding company, listed on the Philippine Stock Exchange under ticker FPH and controlled by the Lopez family through Lopez Holdings Corporation. Founded in 1961 and headquartered in Pasig, the group operates across clean and renewable energy, premium real estate, manufacturing, construction, healthcare, and education through wholly-owned subsidiaries including First Gen Corporation, Energy Development Corporation (EDC), Rockwell Land Corporation, First Balfour, and First Philec. The group has explicitly exited coal-fired generation since 2016 and positioned itself as a leader in the Philippine energy transition.

The group's core technology platform is renewable power generation through First Gen Corporation, which operates 31 facilities totaling 1,764 MW of renewable capacity spanning geothermal (where EDC is the world's largest vertically integrated geothermal company), hydro, wind, and solar power. Adjacent technical capabilities include the 120-MW Aya pumped-storage hydro facility, the 414-MW San Gabriel gas plant, rooftop solar PV installations for industrial customers, and a vertically integrated geothermal drilling operation through ThermaPrime Drilling. Outside energy, the group operates a nearly 600-hectare industrial park (FPIP), premium residential and commercial real estate through Rockwell Land, EPC construction services, transformer manufacturing (including a 100% recyclable green transformer line), and healthcare assets including the Asian Eye Institute, clinical research organization PiVOT, and Medical Services of America Philippines.

FPH's revenue model rests primarily on long-term power supply agreements with the Philippine utility Meralco and large industrial offtakers (including Megaworld, Converge, and Holcim Philippines), supplemented by real estate sales from Rockwell Land, B2B manufacturing revenue, construction EPC contracts, and industrial park rentals/leases. The group monetizes its clean energy position via utility-scale generation, corporate renewable energy solutions (such as the 1.84-MW rooftop solar installation for NKC Phils), capital recycling (EDC's approved P15 billion ASEAN green bond program), and minority-stake monetization events such as the 2025 sale of a 60% stake in First Gen's gas business to Prime Infrastructure Capital.

Name

First Philippine Holdings Corporation

Legal name

First Philippine Holdings Corporation

Website

https://fphc.com

Company type

Public

Founded year

1961

Operating status

Operating

Headcount range

51–100 employees

Short description

First Philippine Holdings Corporation is a Lopez-family-controlled Philippine conglomerate (founded 1961, PSE: FPH) operating through First Gen, EDC, Rockwell Land, First Balfour, and First Philec in renewable energy, premium real estate, manufacturing, construction, healthcare, and education.

Ownership category

akta.pro rank

Product category

Diversified Conglomerate

NAICS

Electric Power Generation, Transmission and Distribution (2211), Management of Companies and Enterprises (551), Electric Power Generation (22111)

SIC

Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Development-Stage M&A & Portfolio Acquisition (Early-Stage/Ready-to-Build) (EUAMAAAF)

akta.pro secondary industries

Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ), Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG), Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ)

Keywords

• Renewable energy generation
• Real estate development
• Construction engineering services
• Electrical equipment manufacturing
• Healthcare services

Headquarters

HQ city

Pasig

HQ country

Philippines

HQ region

Asia

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D

Distribution channels3 records

Marketing channels3 records

Core offering

First Philippine Holdings Corporation (FPH) is a diversified holding company that operates and manages a portfolio of businesses in clean and renewable energy generation (geothermal, hydro, wind, solar), premium real estate development, construction and engineering services, power equipment manufacturing, industrial park operations, healthcare, and education. Its subsidiaries include First Gen Corporation (the Philippines' largest clean energy producer with 31 renewable facilities), Energy Development Corporation (the world's largest vertically integrated geothermal company), Rockwell Land Corporation (premium property developer), First Balfour Inc. (EPC contractor), and First Philec Inc. (transformer manufacturer).

Product overview

First Philippine Holdings Corporation (FPH) is a diversified holding company operating a multi-business portfolio structured as a collection of subsidiaries and sub-brands across energy, property, manufacturing, construction, healthcare, and education. In energy, FPH holds First Gen Corporation — the Philippines' largest clean energy producer with 31 facilities across geothermal, hydro, wind, and solar — and its wholly-owned renewable subsidiary Energy Development Corporation (EDC), the world's largest vertically integrated geothermal company. First Gen Energy Solutions provides commercial solar PV installations, while First Gen Hydro Power Corp. manages pumped-storage and conventional hydro assets. Property operations are led by Rockwell Land Corporation, which develops premium residential and commercial projects. Construction and engineering services are handled by First Balfour Inc. (which has adopted AI-powered project management tools), and manufacturing includes First Philec Inc. (green transformers) and FPIP (industrial parks). Healthcare subsi diaries include Asian Eye Institute and PiVOT clinical research organization. EDC's BINHI program is FPH's flagship environmental initiative for reforestation and biodiversity. FPH also recently launched the Drop IT for Good e-waste recycling campaign with HMR Envirocycle.

Differentiator

Problem solved

Functional benefit

Products and services

• Clean and Renewable Energy Generation
• Geothermal Power Generation Vertically integrated geothermal energy operations through Energy Development Corporation (EDC), the world's largest vertically integrated geothermal company. Includes steamfield operations, power plant construction, and electricity generation from geothermal resources.
• Tanawon Geothermal Power Plant A 22-megawatt geothermal power plant inaugurated in August 2025 at a cost of PhP7 billion, representing a milestone in the Philippines' clean energy transition.
• Aya Pumped-Storage Hydro Facility A 120-megawatt pumped-storage hydropower facility under development in Pantabangan, Nueva Ecija, that uses existing Aya and Masiway reservoirs to cycle and store water as a grid-stabilizing water-based battery. Target commercial operation is 2030.
• First Gen Hydro Power (Pantabangan-Masiway and Casecnan Plants) Conventional hydropower generation through First Gen Hydro Power Corp., including the 132-MW Pantabangan-Masiway plant and the 165-MW Casecnan plant operated via Fresh River Lakes Corporation.
• GreenWheels EV Project First Gen's integrated electric vehicle (EV) project launched in 2022, including GreenWheels EV charging stations deployed alongside Nissan LEAF vehicles as part of the company's decarbonization program.
• Rooftop Solar PV Systems for Commercial and Industrial Customers Solar photovoltaic system design, installation, and energy solutions provided by First Gen Energy Solutions for commercial and industrial clients, including a 1.84-megawatt peak rooftop solar system for NKC Manufacturing Philippines at the Mactan Economic Zone in Cebu.
• Microgrid and Off-Grid Energy Solutions Microgrid and off-grid electricity solutions for remote islands and communities delivered through FP Island Energy Corp., including completed microgrid projects in Camarines Sur providing 24/7 electricity to remote island-baranguays.
• Premium Real Estate Development Upscale residential, commercial, and mixed-use property development through Rockwell Land Corporation, including Rockwell Center in Makati, Power Plant Mall, and expansion projects in the Visayas and Central Luzon (such as Rockwell South at Carmelray in Laguna).
• Construction and Engineering Services (EPC) Engineering, procurement, and construction services for industrial and infrastructure projects through First Balfour Inc. First Balfour has adopted AI-powered construction management systems and has received Platinum accreditation from Investors in People.
• Green Transformers Transformers and electrical equipment manufactured by First Philec Inc., including a line of green transformers made from 100% recyclable and biodegradable materials to help power distributors reduce system losses and carbon footprint.
• Industrial Park Development and Operations Economic zone developer and operator in Santo Tomas, Batangas through First Philippine Industrial Park (FPIP), spanning nearly 600 hectares and hosting over 135 companies, offering industrial lots, facilities, and community programs for locators.
• Geothermal Drilling Services Drilling services for geothermal energy projects through ThermaPrime Drilling Corp., which has acquired additional drilling rigs to support EDC's geothermal expansion program.
• Energy Efficiency and Building Solutions Energy efficiency solutions and services through Pi Energy Inc., including anti-indoor pollution services in partnership with uHoo and energy conservation projects in partnership with Climargy.
• Eye Care and Ophthalmology Services In-person and teleconsultation eye care services through the Asian Eye Institute, the largest and most trusted eye center in the Philippines with the widest network of eye clinics. Includes the Asian Eye Shop e-commerce platform offering eye care products.
• Asian Eye Shop Online E-commerce website launched by Asian Eye Institute in 2021 offering eye care products and services online to individual consumers.
• Clinical Research Organization (CRO) Services Contract research organization services through PiVOT, the Philippines' leading local CRO, promoting the country as a clinical research center.
• Technical-Vocational Education Technical-vocational education services through First Industrial Science and Technology College (FIRST School).

Quantifiable outcome

• First Gen has 1,764 megawatts of renewable energy capacity from geothermal, hydro, wind, and solar facilities
• +4 more outcomes

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• ACEN Corporation: Ayala Group's listed energy platform focused on renewable energy expansion across the Philippines and ASEAN markets. Directly competes with FPH/First Gen in renewable IPP development and operations.
• SN Aboitiz Power Group: Joint venture between SN Power and Aboitiz Power focused on Philippine hydroelectric and renewable energy generation. Direct competitor to First Gen Hydro Power Corp. in hydro IPP space.
• Manila Electric Company (Meralco): Philippines' largest electric distribution utility and a key customer of First Gen via power supply agreements. Comparable scale player in the Philippine electricity value chain.
• Lopez Holdings Corporation: Parent company of FPH and the broader Lopez Group conglomerate. Operates a similar diversified holding structure with energy, real estate, and infrastructure interests across the Philippines.
• Aboitiz Power Corporation: Major Philippine power generation company with significant renewable energy portfolio across hydro, geothermal, solar, and wind. Direct competitor to First Gen in the Philippine IPP market, with similar scale and strategy.

Broad incumbents

• Ayala Corporation: One of the Philippines' largest conglomerates with interests in real estate, banking, telecoms, water, power, and education. Similar diversified structure spanning multiple sectors with comparable governance standards.
• Engie: Global renewable energy utility that has transitioned from fossil fuels to renewables. Comparable strategic playbook of coal exit and renewable capacity expansion across multiple geographies, providing a benchmark for FPH's transition trajectory.
• Metro Pacific Investments Corporation: Philippine infrastructure conglomerate with investments in power, toll roads, water, healthcare, and real estate — parallel diversified holding structure with infrastructure focus.
• Aboitiz Equity Ventures: Diversified Filipino conglomerate with interests in power, banking, food, infrastructure, and real estate — directly comparable diversified holding structure and parallel family-led governance model.
• San Miguel Corporation: Major Filipino conglomerate with significant energy, food and beverage, packaging, and infrastructure businesses. Comparable diversified conglomerate scale with substantial power generation operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Philippine Holdings Corporation