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3 days ago

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NexGen Energy unit bags green lane certifications for PH wind projects

The projects are located in Quezon province.

NexGen Energy has announced that its subsidiary, Airstream Renewables Corp. (ARC) has been granted green lane certifications for its four planned wind farm projects.

In a bourse filing, NexGen Energy said the projects, worth $5.23b (PHP300b), are located in Real and Mauban, Quezon. These are the 2,000 megawatt (MW) Real Offshore Wind Farm; 300 MW Mauban Offshore Wind Farm; 200 MW Pandan Labayat Onshore Wind Farm; and 300 MW Silang Maragondon Onshore Wind Farm.

The certification was given by the One-Stop Action Center for Strategic Investments of the Board of Investment.

Green lane certifications are issued to projects certified as strategic investments under EO 18.

“This gives opportunities for ARC and the company to have bigger roles towards promoting clean energy in the Philippines thus addressing critical issues such as environmental sustainability, prices of electricity, and sufficiency of energy supply,” the disclosure read.

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