NexGen Energy Corp. announced that its subsidiary, Airstream Renewables Corp. (ARC), has secured green lane status for its four wind farm projects.
In a disclosure to the Philippine Stock Exchange on Monday, April 7, NexGen Energy said ARC’s wind projects, which are located in Quezon province, have been granted green lane certifications by the Board of Investments (BOI).
Green lane certificates essentially act as an expediting ticket to streamline processing and approval of permits and licenses.
The projects, which feature both offshore and onshore types of wind technologies, cost approximately ₱300 billion in total.
These include 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 critical task ahead is to ensure that these wind farms will start commercial operations soon, contributing to the company’s long-term financial growth and increased shareholder value,” NexGen explained.
Green lane certifications were introduced in 2023 under Executive Order (EO) No. 18. These are awarded by the BOI to projects deemed strategic investments.
This year, green lane certificates were endorsed for Vena Energy’s solar and wind units, which have a total investment value of ₱75 billion, as well as Upgrade Energy Philippines’ solar projects also worth ₱75 billion.
According to the BOI, about 141 renewable energy (RE) projects worth ₱4.13 trillion were granted green lane status as of December 2024.