MANILA, Philippines - Independent power producer First Gen Corp. is spending $1.5 billion for expansion in the next 3 to 5 years.

First Gen President Federico Lopez said their expansion plan covers the rehabilitation and construction of power plants that will add up to 1,000 megawatts to their capacity.

"A lot will be done by different corporations (subsidiaries like Energy Development Corp., First Gas, First Gen Hydro) not necessarily First Gen," he said.

Lopez said they will expand the capacity of the 1,500-megawatt Sta. Rita and San Lorenzo natural gas plants through the 550-MW San Gabriel plant; and add another 77 MW to the 112-MW Pantabangan-Masiway hydroelectric power plant.

They are also rehabilitating the 150-MW Bacon-Manito geothermal facility to hike its capacity by 110 MW.

For new projects, First Gen is planning to put up the 40-MW Tanawon and 50-MW Apo geothermal power plants, and the 116-MW Burgos wind farm.

"That's not all equity. A big chunk of these projects will be through debts," Lopez said when asked how they would fund the expansion program.