NEXGEN ENERGY CORP. is searching for foreign partners to assist develop its pipeline of renewable energy projects, its president said.
“NexGen is continually in energetic discussions with investors from Japan, China, Europe, and the Middle East, who’ve expressed strong and serious interest in co-developing NexGen’s pipeline project,” NexGen President Eric Y. Roxas said in a press release on Thursday.
“Pursuing and moving our pre-development phases forward, we generate more interest in our projects in addition to enhance our shareholder value,” he added.
The corporate is currently pursuing 14 renewable energy projects — two solar, seven offshore wind, and five onshore wind — all with awarded service contracts, Mr. Roxas said.
4 of those projects are already in advanced stages.
Amongst the corporate’s solar initiatives, NexGen is expanding its solar farm in Palauig, Zambales, by developing one other solar facility with a capability of 9.9 megawatts (MW), which is targeted to start operations by mid-2026.
For its wind projects, NexGen said it has successfully erected a 120-meter meteorological mast — a structure used to verify wind resource potential — on the sites of its 2,000-MW Real and 300-MW Mauban offshore wind projects.
The corporate can be preparing to put in the met mast for its 200-MW Pandan Onshore Wind Project.
“With these milestones being reached, the corporate has registered for the federal government’s Green Energy Auction Program (GEAP) for the Palauig Solar Farm and plans to register for the upcoming GEAP 5 for its offshore wind projects,” the corporate said.
The federal government is preparing to launch the fifth green energy auction, which can cater to offshore wind power.
NexGen currently owns and operates three solar farms and has a development pipeline totaling over 1.5 gigawatts of wind and solar projects. — Sheldeen Joy Talavera