NexGen’s $2.5-B Wind Bet Signals New Momentum for Philippine Renewables

NexGen Energy Corp. is making a bold move in the Philippine renewable energy (RE) space, committing roughly $2.5 billion to set up three large-scale onshore wind projects that together could add 1.7 gigawatts (GW) of clean power to the national grid. The investment underscores growing confidence in wind energy as a cornerstone of the country’s long-term energy transition and positions NexGen as a serious contender among the nation’s top renewable developers.

The planned projects will be carried out through NexGen’s wind-focused subsidiary, Airstream Renewables Corp., following the awarding of three Wind Energy Service Contracts by the Department of Energy (DOE). The contracts cover wind developments in Pangasinan, Samar, and Nueva Ecija, areas identified for their strong wind resource potential and strategic grid access.

NexGen President Eric Roxas described the contract awards as a pivotal milestone for the company, saying they significantly strengthen its development pipeline and advance its broader growth strategy. He added, “Together, they represent around $2.5 billion in prospective investment and lay the foundation for long-term, stable value creation for our stakeholders.”

Beyond the headline investment figure, the projects reflect a broader shift in the Philippine energy sector, where private developers are increasingly stepping up to deliver capacity at a scale that can materially support economic growth while reducing reliance on fossil fuels.

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Three provinces, one integrated wind strategy

Each of the three wind projects is designed as a utility-scale facility, with capacities that rival the country’s largest existing wind farms. In Pangasinan, Airstream plans to develop a wind project with a potential capacity of up to 600 megawatts (MW) across more than 13,700 hectares. 

Power generated from the site will be delivered to the grid through a dedicated 230-kilovolt (kV) transmission line connecting to the National Grid Corp. of the Philippines’ (NGCP) Labrador substation.

A similarly sized 600-MW wind project is planned in Samar, spanning close to 17,000 hectares. The Samar facility will be linked to the grid via the NGCP’s 138-kV Victoria substation, providing a direct connection point for transmitting renewable power from the Eastern Visayas to demand centers.

In Nueva Ecija, Airstream is developing a slightly smaller, but still substantial, 500-MW wind project covering more than 9,200 hectares. Electricity from this site will be transmitted through a 230-kV line to the Sampaloc substation, integrating Central Luzon wind resources into the national network.

Taken together, the three projects illustrate a deliberate strategy: pairing high-capacity wind sites with clearly defined grid interconnection plans to reduce execution risk and improve project bankability. NexGen has emphasized disciplined execution and capital efficiency, signaling that the company intends to pace development in line with regulatory requirements, grid readiness, and financing conditions.

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Strengthening a fast-growing renewables pipeline

The latest service contracts further expand NexGen’s already sizable renewable portfolio. Through Airstream Renewables, the company now holds eight wind energy service contracts, with a combined pipeline exceeding 3,000 MW of onshore and offshore wind projects. Including solar assets under development, the broader NexGen group has a pipeline that runs well beyond 3 GW.

NexGen was listed on the Philippine Stock Exchange last year, a move that provided greater visibility and access to capital as it scales up its renewable ambitions. The company is backed by business interests linked to entrepreneur Dexter Tiu, under Pure Energy Holdings Corp.

The timing of NexGen’s wind expansion also aligns with the DOE’s push to accelerate renewable capacity additions. Earlier this month, the DOE announced the results of the fourth round of the Green Energy Auction, awarding more than 10,000 MW of capacity across various renewable technologies, including onshore wind. Winning bidders are now required to complete a series of compliance steps, such as posting performance bonds and conducting system impact studies, to ensure timely project delivery.

For NexGen, the newly secured wind contracts place the company firmly within this broader national effort. By committing capital at scale and focusing on projects capable of delivering hundreds of megawatts each, the company is helping move RE from niche deployments toward a central role in the country’s power mix.

As development work progresses, the three wind projects are expected to generate not only clean electricity but also longer-term economic benefits through construction activity, local employment, and improved energy security. For the energy firm, the $2.5-billion investment is more than an expansion plan; it is a statement of intent that the company aims to be a long-term player shaping the future of Philippine wind power.

Sources:

https://www.philstar.com/business/2025/12/02/2491181/nexgen-energy-allots-25-billion-wind-projects

https://businessmirror.com.ph/2025/12/02/nexgen-secures-new-wind-energy-projects-from-doe