NexGen Energy Corp. disclosed today that it has deployed PHP 244.26 million of its initial public offering (IPO) proceeds as of the first quarter of 2026, as it continues to scale up its renewable energy pipeline across solar and wind projects.

The disclosure showed PHP 21.0 million in additional disbursements in Q1 2026. The IPO proceeds form part of the PHP 504 million gross raised when the company listed on the Philippine Stock Exchange in July 2024.

The spending comes alongside an expanding project pipeline spanning solar, onshore wind, and offshore wind assets. In solar, NexGen is progressing the 9.9-MW Palauig Solar Farm expansion in Zambales, targeted for commissioning by mid-2026.

The company’s capital deployment runs alongside a growing portfolio of renewable energy projects, including a 9.9-megawatt expansion of the Palauig Solar Farm in Zambales, which is targeted for commissioning by mid-2026.

In wind energy, NexGen is developing both onshore and offshore projects, including offshore developments in Real and Mauban, Quezon, where wind measurement infrastructure has already been installed to support resource assessment. 

Its onshore wind portfolio is being developed through subsidiary AIRSTREAM Renewables Corp., with projects located in Pangasinan, Samar, Nueva Ecija, and Quezon, covering a combined planned capacity of 1.7 gigawatts.

IPO proceeds have been allocated across six development areas, led by renewable energy project development and wind-related investments, followed by solar, operating requirements, and other supporting initiatives.

The disclosure showed PHP 239.86 million in unutilized net proceeds remain in escrow and time deposits, which generated additional foreign exchange and interest income. IPO-related expenses totaled PHP 25.95 million, slightly above the planned budget, with the excess covered by company funds. No changes to the planned use of proceeds were reported during the period.

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