Philippine Geothermal Production Company, Inc. (PGPC), a 100 percent Filipino company, was incorporated on 16 October 2001. Allfirst Equity Holdings, Inc. (AEHI) owns, directly and through its wholly owned subsidiaries, 100 percent of PGPC's shares. PGPC pioneered in geothermal energy development in the country and is operating the Tiwi Geothermal Field, located in the Province of Albay, and the Mak-Ban Geothermal Field, which straddles the Provinces of Laguna and Batangas.

Geothermal energy development in the country started in 1971, when PGPC's predecessor-in-interest, Philippine Geothermal Inc. (or PGI, now known as Allfirst Geothermal Philippines, Holdings, LLC), entered into a Service Contract with the National Power Corporation. This pioneering venture transformed the government's 2.5 kW experiment in the steam fields of Albay province into the first commercial geothermal power project in Southeast Asia with the discovery in 1972 of Naglagbong-1 well in Tiwi. Commercial operations in Tiwi began in 1979, ushering the birth of the Philippines geothermal energy industry.

Starting in 1974, PGI went on to discover and develop the Mak-Ban geothermal resource in an area that straddles the provinces of Laguna and Batangas. Commercial operations in Mak-Ban, which is a shortened version of Mt. Makiling and Mt. Banahaw, followed in 1979.

PGPC continues its legacy of providing a clean, stable, reliable, and renewable source of energy to meet the country's growing power requirements. PGPC's vision is to be the leading geothermal energy company, recognized not only for its world-class performance, but also for contributing to the improvement in the lives of the people in the communities where it operates.