Clifford Chance has advised Deutsche Bank AG as the sole bookrunner on Philippine renewable energy firm First Gen Corporation's PHP7.5 billion ($168 million) accelerated top-up placement to support expansion of its power projects.

Partner Raymond Tong said, "We were delighted to advise on this exciting Philippines transaction. We're seeing an increase in capital markets deals in the country, particularly to help fund infrastructure and energy projects."

Raymond and counsel Paul Kuo led on the transaction. They were assisted by partner Matt Fairclough and senior associate Jeremy Ward.

First Gen has 15 power plants with a total installed capacity of 2,763 megawatts, including 11 geothermal power plants operated by its unit Energy Development Corporation.