NexGen Energy Corp. said Monday its subsidiary Airstream Renewable Corp. was granted Green Lane certifications for its four planned wind farms in Real and Mauban, Quezon costing P300 billion.
The projects, approved by the Board of Investments One-Stop Action Center for Strategic Investments, includes the 200-megawatt (MW) Pandan Labayat wind farm, 2,000-MW Real offshore wind farm, 300-MW Silang Maragondon wind farm and 300-MW Mauban offshore wind farm.
“The issuance of Green Lane certifications gives opportunities for Airstream Renewable Corp. and XG 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,” said NexGen president and chief executive Eric Peter Roxas.
Airstream said even before the issuance of Green Lane certifications, it has been conducting technical, environmental and social studies—including wind resource assessments—for these projects. The company welcomes these certifications as they would streamline the process of completing these ongoing projects.
The Green Lane certification program is an initiative by the government to promote strategic investments in the economy.
Under the program, national and local government agencies are required to streamline the process of obtaining permits for strategic investments that have a Green Lane certificate.
A “strategic investment” is considered having a significant capital or investment to the country, a consequential economic impact; a positive impact on the environment; a significant contribution to the country’s balance of payments; complex technical processes and engineering designs.
Airstream applied Green Lane certification in order to avail of expeditious, streamlined and automated processing and approval of permits and licenses.
NexGen said the issuance of the certifications gives opportunities for Airstream and the company to have bigger roles towards promoting clean energy, thus addressing critical issues such as environmental sustainability, prices of electricity and sufficiency of energy supply.
“The critical task ahead is to ensure that these wind farms will start commercial operations soon, thus contributing to the company’s long-term financial growth and increased shareholder value,” NexGen said.
