First Gen (PSE:FGEN) unit FGEN Power Ventures received orders from the Philippines' Department of Energy to pay a fine of 60,000 Philippine pesos, the company said in a disclosure on Tuesday.
The penalty was imposed for the non-submission of quarterly financial reports related to three solar energy operating contracts that are still in the pre-development stage.
The company has 10 calendar days from today to settle the amount, the filing said.
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