NexGen targets capacity boost from purged RE deals

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January 27, 2026 | 12:00am

MANILA, Philippines — NexGen Energy Corp., businessman Dexter Tiu’s listed renewable energy (RE) company, wants to seize additional contracts once the government opens up capacity from terminated deals of nonperforming developers.

NexGen is targeting the freed-up capacity from over 160 canceled RE contracts that could be offered in upcoming green energy auction (GEA) rounds, its VP for operations Angela Sanchez said.

This follows the Department of Energy’s (DOE) sweeping cleanup of nearly 18,000 megawatts (MW) of projects that failed to deliver on their commitments over the past two years.

While the move was bad news for noncompliant developers, it creates new opportunities for serious investors like NexGen to expand their footprint.

“(This) is very exciting for us. That means there’s a lot more capacity that’s available for serious developers to bid for those capacities for GEA. I’m actually looking forward to that,” Sanchez said.

Late last year, the DOE awarded NexGen subsidiary Airstream Renewables Corp. with three additional wind service contracts totaling 1.7 gigawatts (GW) in Pangasinan, Samar and Nueva Ecija.

The Pangasinan and Samar projects have a potential capacity of 600 MW each, while the planned Nueva Ecija facility could unlock 500 MW of wind resources.

The projects represent around $2.5 billion in prospective investment, NexGen president Eric Roxas said.

With these new deals, NexGen’s total wind contracts have reached 15, equivalent to roughly eight GW of capacity in the pipeline.

Currently, the company operates three solar projects and eight hydropower assets.

Nine of these ongoing projects fall under the government’s feed-in tariff program, which offers guaranteed fixed payments to ensure long-term revenue certainty for developers.

Even without a formal RE target, NexGen continues to prioritize meeting its obligations from earlier awarded projects, Sanchez noted.

“Our focus is to really just keep moving and delivering what’s required from us. We are more focused on operating those projects,” she said.