AIRSTREAM Renewables Corp., a subsidiary of listed NexGen Energy Corp., has secured green-lane certifications for its P300-billion wind power projects in Quezon, making them eligible for expedited permit processing.
The Board of Investments One-Stop Action Center for Strategic Investments has granted green-lane certifications to the 2,000-megawatt (MW) Real Offshore Wind Farm, the 300-MW Mauban Offshore Wind Farm, the 300-MW Silang Maragondon Wind Farm, and the 200-MW Pandan Labayat Wind Farm, the company said in a media release on Monday.
“The issuance of green-lane certifications gives opportunities for Airstream Renewable Corp. and [NexGen] to have bigger roles in promoting clean energy in the Philippines, thus addressing critical issues such as environmental sustainability, electricity prices, and energy supply sufficiency,” said Eric Peter Y. Roxas, president and chief executive officer of NexGen.
Executive Order No. 18, approved in 2023, established green lanes within government agencies to expedite the process of granting permits and licenses for strategic investments.
NexGen said its subsidiary has conducted technical, environmental, and social studies, as well as wind resource assessments for the wind projects.
“The granting of green lane certifications to Airstream Renewable Corporation’s projects is a testament to the government’s confidence that we are a proactive contributor to sustainable and inclusive national development,” Mr. Roxas said.
“With that being said, the critical task ahead of us is to ensure that these wind farms will start commercial operations soon — thus contributing to [NexGen’s] long-term financial growth and increased shareholder value,” he added.
Asked about the timeline of the projects, Mr. Roxas said that the Silang and Mauban wind power projects are slated for completion by late 2027, while the Pandan and Real wind projects are set to be finished by 2028.
“The project costs will be funded by partial debt and equity. The company has been in talks with several foreign investors who have expressed their interest in participating in these projects,” he said.
NexGen is focused on wind and solar power, with more than 1.5 gigawatts of projects in the pipeline. — Sheldeen Joy Talavera