THE Department of Energy has awarded a certificate of authority (COA) to 5hour Peak Energy Corp. (5hour) for the development of the 100-megawatt-peak Caliraya Lake floating solar photovoltaic power plant in Lumban, Laguna.
Listed Nexgen Energy Corp. (Nexgen) disclosed Tuesday to the stock exchange that its subsidiary, 5hour, had applied for a floating solar energy operating contract (SEOC) with the DOE for the development of the Caliraya Lake floating solar project.
Nexgen said the COA is needed before the SEOC can be issued. It said the COA serves as the DOE’s exclusive endorsement for the solar energy developer to conduct reconnaissance and other pre-feasibility studies, as well as secure necessary permits, certifications and tenurial instruments.
The issued COA is subject to terms and conditions and the pertinent issuances of the department, particularly Department Circular No. 2024-06-0018, otherwise known as the “Revised Omnibus Guidelines Governing the Award and Administration of Renewable Energy (RE) Contracts and Registration of RE Developers.”
Nexgen said that within prescribed timelines stated in the COA and the DOE circular, 5hour shall obtain necessary permits, certifications, tenurial instruments and other possessory rights, as well as the pertinent studies.
“Nexgen undertakes to support its first-tier subsidiary to meet such terms and conditions in the COA and the DC, and succeed in this endeavor,” the company said.
Nexgen, formerly Just Solar Corp., was established on June 7, 2017, to be the wind and solar power development company of Pure Energy Holdings Corp. (PEHC).
