Prime Infrastructure Capital (hydropower portfolio) Valuation, Funding & Investors

Prime Infrastructure Capital (hydropower portfolio) is valued at $3.2B as of February 2026.

Last Prime Infrastructure Capital (hydropower portfolio) valuation

$3.2B

Secondary · Feb 2026

Key investors in Prime Infrastructure Capital (hydropower portfolio)

  • First Gen

Prime Infrastructure Capital (hydropower portfolio) Overview

About Prime Infrastructure Capital (hydropower portfolio)

Prime Infrastructure Capital is a Philippine infrastructure and energy company controlled by billionaire Enrique Razon Jr., known primarily for his global port operations empire. The company develops large-scale energy, water, and infrastructure projects in the Philippines, with a current focus on hydropower and natural gas. Its flagship energy developments include the 600 MW Wawa pumped-storage hydropower project in Rizal province and the 1,400 MW Ahunan project in Laguna, together representing 2,000 MW of long-duration energy storage capacity. Both projects have been designated as Energy Projects of National Significance by the Philippine government. In 2025, Prime Infra acquired a 60% stake in First Gen's gas-fired power business for PHP 50 billion, and in February 2026, First Gen in turn acquired a 40% equity stake in Prime Infra's hydropower portfolio for PHP 75 billion.


HQ

PhilippinesManila

Status

Privately held

Customer focus

B2B

Revenue model

Investment management

Valuation

$3.2B (Feb 2026)

Prime Infrastructure Capital (hydropower portfolio) Valuation

Prime Infrastructure Capital (hydropower portfolio) is currently valued at $3.2B, based on its secondary sale in February 2026.

The $1.3B round included First Gen.

Prime Infrastructure Capital (hydropower portfolio) valuation by funding round

Prime Infrastructure Capital (hydropower portfolio) valuation by funding round
DateStageValuation
Feb 2026Secondary$3.2B

Prime Infrastructure Capital (hydropower portfolio) Funding History

Prime Infrastructure Capital (hydropower portfolio) has 1 recorded secondary share sale and no primary funding rounds.

Prime Infrastructure Capital (hydropower portfolio) funding rounds

Prime Infrastructure Capital (hydropower portfolio) funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2026SecondaryFirst Gen$1.3B$3.2BFirst Gen Corporation, a major Philippine energy company, agreed to acquire a 40% equity stake in Prime Infrastructure Capital Inc.'s pumped storage hydropower portfolio for PHP75 billion (approximately $1.3 billion USD). The transaction, announced on March 12, 2026 and pending regulatory approval, covers two large-scale pumped storage hydropower projects: the 600 MW Wawa Pumped Storage Hydropower Plant in Rizal province and the 1,400 MW Pakil Pumped Storage Hydropower Plant in Laguna province. Combined, these facilities will provide 2,000 MW of long-duration energy storage capacity. Of the PHP75 billion transaction value, PHP62.5 billion (approximately $1.12 billion USD) will be directly allocated to construction and equity financing for the projects. This investment represents a significant expansion of First Gen's renewable energy portfolio and deepens the strategic relationship between the two companies. The transaction follows Prime Infra's 2025 acquisition of a controlling stake in First Gen's gas-fired power plants for PHP50 billion, demonstrating an increasingly integrated partnership between the energy companies. The pumped storage projects are targeted for completion by December 2030 and will provide dispatchable capacity to support grid stability and the integration of renewable energy sources into the Luzon power network. Power China has been engaged as the engineering, procurement, and construction contractor for both projects, while Toshiba and Andritz Hydro will supply mechanical equipment. Once operational, these facilities are expected to enhance grid reliability, support growing renewable energy penetration, and contribute to national energy security objectives and reduced dependence on imported fuels.

Who has invested in Prime Infrastructure Capital (hydropower portfolio)?

1 investor has backed Prime Infrastructure Capital (hydropower portfolio) across its funding rounds, including First Gen.


Prime Infrastructure Capital (hydropower portfolio) Investors

Investors in Prime Infrastructure Capital (hydropower portfolio) by funding rounds participated
InvestorHQRoundsRoleFirst check

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Prime Infrastructure Capital (hydropower portfolio) Competitors

Prime Infrastructure Capital (hydropower portfolio) competitors include listed companies like AIKO Solar, Greencoat UK Wind, Sany Heavy Energy and Grenergy Renovables, and private ones like Commonwealth Fusion Systems and RWE (Norfolk Vanguard wind project).

Public and private companies comparable to Prime Infrastructure Capital (hydropower portfolio)
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AIKO SolarChinaChinaPublicly listed$2.3B$37M$3.2B1.8x
Greencoat UK WindUnited KingdomUnited KingdomPublicly listed($249M)-$3.2B12.5x
Sany Heavy EnergyChinaChinaPublicly listed$4.1B$202M$3B0.6x
Commonwealth Fusion SystemsUnited StatesUnited StatesPrivate--$3.4B-
Grenergy RenovablesSpainSpainPublicly listed$804M$199M$2.9B3.9x
RWE (Norfolk Vanguard wind project)GermanyGermanyPrivate--$3.6B-

Prime Infrastructure Capital (hydropower portfolio) Public Comps

Prime Infrastructure Capital (hydropower portfolio) is still privately-owned, but its public comps include AIKO Solar, Greencoat UK Wind, Sany Heavy Energy, Grenergy Renovables, Boralex, ERG, Solaria Energia, Drax Group, SJVN and Clearway Energy.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
AIKO Solar$2.3B$37M2.1x1.8x134.0x22.5x
Greencoat UK Wind($249M)-(22.2x)12.5x--
Sany Heavy Energy$4.1B$202M0.6x0.6x11.6x10.0x
Grenergy Renovables$804M$199M5.4x3.9x21.8x16.3x
Boralex$612M$357M10.2x10.7x17.4x13.0x
ERG$856M$523M7.3x6.8x12.0x9.7x
Solaria Energia$227M-19.1x10.0x-11.2x
Drax Group$7.2B$659M0.7x0.7x7.7x4.9x

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Common questions about Prime Infrastructure Capital (hydropower portfolio)

Where is Prime Infrastructure Capital (hydropower portfolio) headquartered?Prime Infrastructure Capital (hydropower portfolio) is headquartered in Manila, Philippines.
Is Prime Infrastructure Capital (hydropower portfolio) publicly listed?No, Prime Infrastructure Capital (hydropower portfolio) is a private, VC-backed company.
What is Prime Infrastructure Capital (hydropower portfolio)'s valuation?Prime Infrastructure Capital (hydropower portfolio) was last valued at $3.2B in its secondary sale in February 2026.
Who are Prime Infrastructure Capital (hydropower portfolio)'s investors?Prime Infrastructure Capital (hydropower portfolio)'s investors include First Gen.
Which companies are comparable to Prime Infrastructure Capital (hydropower portfolio)?Companies comparable to Prime Infrastructure Capital (hydropower portfolio) include AIKO Solar, Greencoat UK Wind, Sany Heavy Energy, Commonwealth Fusion Systems, Grenergy Renovables and RWE (Norfolk Vanguard wind project).

See companies similar to Prime Infrastructure Capital (hydropower portfolio)

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