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Prime Infrastructure Capital Inc. is targeting a sharp expansion in revenue and earnings over the short to medium term, backed by acquisitions, existing assets, and the planned commercial operations of 2 gigawatts of pumped-storage projects in Laguna and Rizal.
The infrastructure group posted ₱67.63 billion in revenue in 2025, up 21% from ₱55.99 billion a year earlier, following its acquisition of a controlling stake in gas-fired power plants and a liquefied natural gas terminal at the Philippine NatGas Complex in Batangas.
“We are positioned to double both revenue and earnings over the short to medium term,” Prime Infra Treasurer and Chief Financial Officer Sandy Alipio said.
Alipio said growth would be driven by the company’s existing portfolio, acquisitions and the commercial operations of its 2-gigawatt (GW) pumped-storage hydroelectric projects in Laguna and Rizal.
The projects are expected to become a major component of Prime Infra’s energy portfolio while supporting the country’s shift toward renewable power. Pumped-storage facilities can absorb electricity during periods of low demand and release it when demand rises, allowing the grid to better accommodate variable renewable energy.
Power Expansion
Prime Infra’s pumped-storage portfolio includes the 1,400-megawatt Pakil pumped-storage project in Laguna, being developed by subsidiary Ahunan Power Inc. The company also completed construction of the Upper Wawa Dam project a year ahead of schedule.
The Upper Wawa project is integrated with Prime Infra’s pumped-storage plans and is expected to provide 6,000 megawatt-hours of daily energy storage capacity. The stored power is intended to serve mid-merit and peak demand in the Luzon grid while improving grid flexibility and reducing dependence on fossil-fuel generation.
Prime Infra secured ₱273.47 billion in financing in 2025 for its pumped-storage portfolio, providing funding support for the large-scale expansion.
The company has also strengthened its position in the natural gas sector through Prime CoreGen, which includes gas-fired power assets acquired in Batangas. The acquisition expanded Prime Infra’s presence across the natural gas value chain.
Meanwhile, Prime Energy, which operates the Malampaya gas field, completed two new development wells under the field’s Phase 4 project. The wells extended Malampaya’s operating life by approximately six years.
Prime Infra said the additional gas production and its power assets would support the country’s transition toward cleaner energy while strengthening the company’s earnings base.
Bolstered Infrastructure Portfolio
The company has expanded well beyond its original water infrastructure business since its establishment in 2017. Its portfolio now includes Manila Water Co., energy assets and upstream oil and gas investments.
The integration of WawaJVCo Inc. into Manila Water has unlocked operational efficiencies and revenue opportunities, Prime Infra said.
Its acquisition of SierraCol Energy, a Colombia-focused oil and gas producer, also marked its entry into the upstream market outside the Philippines. The company expects favorable global oil prices to help it recover the investment faster than initially anticipated.
Prime Infra President and CEO Guillaume Lucci said the company’s next phase would focus on scaling existing businesses, expanding geographically and strengthening its operating capabilities.
“The next decade will build on the foundations on the first. This means scaling existing platforms, expanding geographically, and deepening operational capabilities. The same principles that guided our first 10 years will define the next phase of growth,” Lucci said.
Funding Strategy
Prime Infra’s expansion comes after it deferred a planned initial public offering in 2023 amid volatile market conditions.
Instead, the company shifted toward private capital and strategic partnerships, which Alipio said provided a more flexible funding model for its expansion.
“As we approach our 10th year, our focus remains fixed on operational efficiency, financial discipline, and delivering stable, long-term returns. We continue to strengthen governance and build institutional capabilities across finance, operations, and project execution, supported by transparent and data-driven reporting,” Alipio said.
The company said its strategy would continue to balance acquisitions and new project development with financial discipline as it approaches its 10th year.
Prime Infra Chairman Enrique Razon Jr. said the group’s investments are intended to address essential infrastructure needs while supporting long-term development.
“Every project we undertake is designed to address essential needs, create lasting value for the Filipino people, and help build a more resilient future,” Razon said.
Source:
https://manilastandard.net/business/corporate/314801239/prime-infra-expects-to-double-revenues.html
https://businessmirror.com.ph/2026/10/05/prime-infra-optimistic-about-doubling-revenues-income