NexGen Energy Corp., a publicly listed renewable energy company, said Friday it has been notified by its affiliate, Repower Energy Development Corp., that the Department of Energy approved the assignment of a wind project to its wholly-owned subsidiary.
The DOE approved the assignment of Repower’s wind service contract covering the Pandan Labayat Wind Energy Farm Project in the coastal town of Real in Quezon.
The project will be assigned to Airstream Renewables Corp., a wholly owned subsidiary of NexGen. ARC is part of a broader corporate structure under Pure Energy Holdings Corp., the parent company of NexGen.
The DOE approval marks a significant step in advancing renewable energy initiatives in the region, allowing NexGen to further its commitment to sustainable energy solutions.
The Pandan Labayat project is a 200 megaWatt onshore wind farm expected to contribute to the growing renewable energy capacity in the country. It is expected to start operation by 2026.
