NexGen Energy Corp.’s wind development arm, Airstream Renewables Corp., secured three onshore wind energy service contracts (WESC) from the Department of Energy (DOE) for 1.7 gigawatts (GW) in potential capacity and representing prospective investments of $2.5 billion.
NexGen said in a disclosure to the Philippine Stock Exchange Monday the DOE issued the WESC and corresponding certificates of registration for the 600-megawatt (MW) Pangasinan Onshore Wind Power Project, the 600-MW Samar Onshore Wind Power Project and the 500-MW Nueva Ecija Onshore Wind Power Project.
“Securing 1.7 GW of new wind energy service contracts represents a major step forward in NexGen Energy’s growth strategy and materially strengthens our development pipeline,” said NexGen president Eric Roxas.
“These three new onshore wind projects—Pangasinan, Samar, and Nueva Ecija—position Airstream Renewables as one of the most competitive large-scale wind developers in the country,” he said.
Roxas said the projects “represent around $2.5 billion in prospective investment and lay the foundation for long-term, stable value creation for our stakeholders.” He also expressed appreciation for the DOE’s continued confidence.
The 600-MW Pangasinan Onshore Wind Project covers 13,770 hectares. It will utilize an 8-kilometer 230-kilovolt (kV) transmission line to connect to the National Grid Corp. of the Philippines’ 230kV Labrador Substation.
The 600-MW Samar Onshore Wind Project spans 16,929 hectares. This will connect via a 7-km. 138kV transmission line to the NGCP 138kV Victoria Substation.
The 500-MW Nueva Ecija Onshore Wind Project covers 9,234 hectares and will be connected via a 15-km 230kV line to the NGCP 230kV Sampaloc Substation.
NexGen, formerly Just Solar Corp., was established on June 7, 2017 to be the wind and solar power development company of Pure Energy Holdings Corp. (PEHC), which is led by businessman Dexter Tiu.
