Company president Eric Y. Roxas called 2024 a “foundational year” for NexGen, highlighted by the company’s initial public offering in July 2024.
“Our listing has fortified NexGen’s capital base and affirmed our long-term commitment to renewable energy leadership,” Roxas said.
Project development updates
Since going public, the company has advanced the development of 14 renewable energy projects: two solar farms, seven offshore wind, and five onshore wind sites. All projects hold government-awarded service contracts, with four now in advanced stages.
Among the most significant is the 9.9-megawatt Palauig Solar Farm expansion, targeted for commissioning by mid-2026. Offshore wind projects in Real and Mauban have completed the installation of 120-meter meteorological masts, equipped with wind sensors at varying elevations to assess energy potential. A similar mast is being prepared for the Pandan Onshore Wind Project.
NexGen has also joined the government’s Green Energy Auction Program (GEAP 4) for the Palauig Solar Farm and plans to participate in GEAP 5 for its offshore projects.
In search of co-development partners
To fund these developments, Roxas said NexGen is in “active discussions with investors from Japan, China, Europe, and the Middle East,” who have expressed strong interest in co-developing the firm’s pipeline projects. “As we progress through the pre-development phases, we generate more investor interest and enhance shareholder value,” he added.
NexGen’s aggressive project rollout is expected to help boost clean energy supply and support the country’s transition to a more sustainable energy mix. —Ed: Corrie S. Narisma
