FEDERICO ‘Piki’ R. Lopez, chairman and chief executive officer of First Philippine Holdings Corp., has been recognized by SEDA Law for his role in advancing renewable energy and cleaner power generation in the Philippines.
SEDA Law conferred on Lopez its Silver Coin Tribute during the law firm’s 25th anniversary celebration attended by some 600 leaders from business, government and the professions.
The firm cited Lopez’s ‘tireless and fearless advocacy for the advancement of sustainable and renewable energy sources,’ saying his work has contributed to the country’s transition toward cleaner power generation and inclusive economic growth.
SEDA Law founding partner Jose Vicente Salazar, who presented the award, credited Lopez with helping introduce new power-generation technologies while creating jobs and opportunities for Filipino professionals.
‘Mr. Lopez has helped the Philippines embrace new power generation technologies, create new jobs, and generate more opportunities for young Filipino talents,’ Salazar said.
‘He did so while ensuring that communities and the environment are protected and preserved for future generations.’
The Silver Coin Tribute was instituted by SEDA Law as part of its silver anniversary observance to recognize Philippine leaders who have used their talent, resources and enterprises to create jobs, economic opportunities and other benefits for Filipinos.
Salazar said the recognition of Lopez reflects the firm’s acknowledgment of private-sector leaders whose work supports national development priorities and long-term sustainability.
The latest recognition comes six years after the Management Association of the Philippines named Lopez its Management Man of the Year in 2020.
MAP at the time cited Lopez for pushing the country’s transition toward a low-carbon economy, championing power-industry deregulation and steering the Lopez Group toward energy security and sustainability through investments in renewable energy, natural gas and clean technologies.
The organization also recognized him for developing Filipino technical and managerial talent and for the Lopez Group’s contributions to production, income generation, employment and national development.
His father, the late Oscar M. Lopez, received the same MAP Management Man of the Year award in 2000.
Clean-energy push
Under Piki Lopez, the Lopez Group made a major shift in its energy strategy in 2016 when it announced that it would no longer develop coal-fired power plants, effectively foregoing investments in what was then still one of the country’s dominant sources of electricity.
Lopez later said the decision was initially difficult to explain to investors and analysts but that the group never regretted it.
‘Despite the doubters, let me say we never wavered and never once regretted the decision,’ Lopez said when he accepted the MAP award in 2020.
A major component of the group’s renewable-energy strategy has been Energy Development Corp., which became part of First Gen Corp. after its privatization in 2007.
EDC, which marked its 50th anniversary this year, is the country’s largest geothermal power producer and operates geothermal facilities in Bicol, Leyte, Negros Oriental and Cotabato, alongside its other renewable-energy assets.
First Gen has invested more than P200 billion in geothermal exploration, drilling, power-plant development, rehabilitation, operations and maintenance since acquiring EDC.
The group is preparing for another major investment cycle, with First Gen looking at capital expenditures of as much as P160 billion over the next five years. About P70 billion is expected to be allocated to geothermal development.
The company has also said it intends to retain EDC despite an unsolicited, indicative and non-binding offer from Indonesia’s PT Barito Renewables Energy Tbk that valued the geothermal company at around $5 billion.
First Gen president and chief operating officer Francis Giles Puno said earlier this month that the company intends to continue developing its geothermal and other renewable-energy businesses.
‘If the Philippines wants to grow, I suspect you need companies like First Gen or EDC to continue to find ways to create value for the expansion of geothermal and other renewable energy sources,’ Puno said.
EDC’s attributable recurring income doubled to P3.8 billion in the first half of 2026 from P1.9 billion in the same period last year.
The company has also continued investing in existing geothermal facilities.
At the Palinpinon-1 geothermal plant in Valencia, Negros Oriental, EDC is replacing three 37.5-megawatt turbine generators with three 42-MW units, raising the facility’s installed capacity from 112.5 MW to 126 MW while using essentially the same amount of geothermal steam.
‘This modernization project reflects our commitment to continuous innovation and environmental stewardship,’ said Noel Tan, head of EDC’s Southern Negros Geothermal Project.
‘By upgrading our existing infrastructure to generate more electricity without needing additional steam extraction, we are maximizing our natural resources while helping accelerate the Philippines’ transition toward a decarbonized energy future,’ Tan said.
EDC also completed three geothermal expansion projects in 2025-the 35.7-MW Palayan Bayan Binary Plant, 21.6-MW Tanawon Geothermal Project and 31.3-MW Mahanagdong Binary Plant-which added a combined 88.6 MW of capacity.
The company commissioned battery energy-storage systems during the year as part of efforts to improve the reliability and flexibility of its renewable-energy portfolio.
Lopez has described EDC as central to the group’s energy strategy.
‘From the very beginning, the mandate of EDC was clear: harness indigenous resources and develop a homegrown power supply that will make the country’s energy grid resilient and secure,’ he said during EDC’s 50th anniversary celebration earlier this year.
‘EDC has been integral to First Gen’s credibility as a clean energy leader.’
The SEDA Law recognition adds to a string of honors Lopez has received for his work in energy and sustainability. Apart from being named MAP Management Man of the Year in 2020, his leadership of First Gen and the wider Lopez Group has been closely associated with the shift away from coal and the expansion of geothermal and other renewable-energy investments.
Nearly a decade after the group stopped pursuing coal projects, First Gen is preparing to commit billions more to the same energy transition-a strategy that has placed EDC and its five decades of geothermal expertise at the center of the group’s future.