NexGen in talks for financing of RE projects

MANILA, Philippines — Renewable power firm NexGen Energy Corp. is actively engaging global investors to secure funding for its growing project pipeline, according to a top official.

“NexGen is continually in active discussions with investors from Japan, China, Europe and the Middle East,” NexGen president Eric Roxas said in a recent annual stockholders’ meeting.

The foreign investors, Roxas said, have indicated “strong and serious interest” in helping NexGen roll out its clean energy projects.

At present, the company has 14 projects in its development pipeline, consisting of two solar, seven offshore wind and five onshore wind projects.

All of these projects have secured service contracts from the Department of Energy (DOE).

With four projects in advanced stages, Roxas said NexGen is gearing up to participate in the DOE’s fourth and fifth green energy auction (GEA) rounds.

GEA-4 consists of ground-mounted solar, roof-mounted solar, floating solar and onshore wind projects, along with solar paired with battery storage components, while GEA-5 is exclusively dedicated to offshore wind technologies.

“Pursuing and moving our pre-development phases forward, we generate more interest in our projects as well as enhance our shareholder value,” Roxas said.

NexGen debuted on the Philippine Stock Exchange in July last year and raised P529.2 million, with proceeds earmarked for solar and wind projects across the country.

The company said its listing strengthened its capital base and affirmed a “long-term commitment to renewable energy leadership in the Philippines.”