NEXGEN ENERGY CORP. is seeking foreign partners to help develop its pipeline of renewable energy projects, its president said.
鈥淣exGen is continually in active discussions with investors from Japan, China, Europe, and the Middle East, who have expressed strong and serious interest in co-developing NexGen鈥檚 pipeline project,鈥 NexGen President Eric Y. Roxas said in a statement on Thursday.
鈥淧ursuing and moving our pre-development phases forward, we generate more interest in our projects as well as enhance our shareholder value,鈥 he added.
The company is currently pursuing 14 renewable energy projects 鈥 two solar, seven offshore wind, and five onshore wind 鈥 all with awarded service contracts, Mr. Roxas said.
Four of these projects are already in advanced stages.
Among the company鈥檚 solar initiatives, NexGen is expanding its solar farm in Palauig, Zambales, by developing another solar facility with a capacity of 9.9 megawatts (MW), which is targeted to begin operations by mid-2026.
For its wind projects, NexGen said it has successfully erected a 120-meter meteorological mast 鈥 a structure used to confirm wind resource potential 鈥 at the sites of its 2,000-MW Real and 300-MW Mauban offshore wind projects.
The company is also preparing to install the met mast for its 200-MW Pandan Onshore Wind Project.
鈥淲ith these milestones being reached, the company has registered for the government鈥檚 Green Energy Auction Program (GEAP) for the Palauig Solar Farm and plans to register for the upcoming GEAP 5 for its offshore wind projects,鈥 the company said.
The government is preparing to launch the fifth green energy auction, which will 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. 鈥 Sheldeen Joy Talavera
