Airstream wind projects get green lane boost

Airstream Renewable Corp., a subsidiary of NexGen Energy Corp. (XG), has secured Green Lane certifications from the Board of Investments’ One-Stop Action Center, allowing it to fast-track the permitting process for its wind projects in Quezon province.

The company said Monday that the certifications will streamline regulatory procedures for four wind energy projects: the 200-megawatt (MW) Pandan Labayat Wind Farm, the 2,000 MW Real Offshore Wind Farm, the 300 MW Silang Maragondon Wind Farm, and the 300 MW Mauban Offshore Wind Farm.

Airstream is investing an estimated P300 billion in these developments.

“The issuance of Green Lane certifications gives opportunities for Airstream 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 Eric Y. Roxas, XG President and CEO.

“The critical task ahead of us is to ensure these wind farms start commercial operations soon — thus contributing to XG’s long-term financial growth and increased shareholder value.”

Before the certifications, Airstream had already conducted technical, environmental, and social studies, including wind resource assessments. The Green Lane certification will help accelerate progress and reduce red tape.

The Green Lane program is a government initiative designed to fast-track the approval of strategic investments with significant capital, economic and environmental impact, and complex technical requirements.