Nexgen Energy unit secures certificate of authority for floating solar project

The subsidiary will proceed to secure necessary permits for the plant.

Nexgen Energy Corp. has announced that its first-tier subsidiary 5hour Peak Energy Corp. has secured its certificate of authority (COA) for the development of a floating solar power project.

In a bourse filing, Nexgen Energy said 5hour has applied for a 100 megawatt-peak floating solar energy operating contract with the Philippines’ Department of Energy (DOE) for the development of the Caliraya Lake Floating Solar Photovoltaic Power Plant situated in Lumban, Laguna.

“The COA will serve as the DOE’s exclusive endorsement for the solar energy developer to conduct reconnaissance and other pre-feasibility studies activities, as well as secure necessary permits, certifications and tenurial instruments,” Nexgen Energy said.

The company said 5hour will now obtain necessary permits, certifications, tenurial instruments and other possessory rights, as well as the pertinent studies within the timelines prescribed by authorities.