Copenhagen Infrastructure Partners (CIP) has agreed to sell a 25% stake in a planned 1-gigawatt (GW) offshore wind project in the Philippines to ACEN, the energy platform of the Ayala Group, as part of efforts to advance the country’s offshore wind industry.
The stake in the San Miguel Bay project, located off the coast of Camarines Sur, will be sold through CIP’s Growth Markets Fund II. The project is in the pre-development phase and is expected to be among the first utility-scale offshore wind developments in the Philippines.
“We are delighted to enter into this landmark partnership with ACEN, one of the most experienced renewable energy developers in the Philippines,” said Robert Helms, Partner at CIP’s Growth Markets Fund II. “Together with CIP’s offshore wind expertise, we believe that ACEN’s experience and domestic and international track record in project execution and stakeholder management will set a strong foundation for the successful development of the Camarines Sur offshore wind project.”
The site benefits from favourable conditions, including steady wind resources, shallow waters, proximity to shore and substations, and relatively low typhoon risk due to its in-bay location. Once operational, the project is expected to contribute to the strengthening of the Luzon power grid and support growing demand for clean energy.
The agreement reflects growing interest in the Philippines’ offshore wind potential, which has been identified as a key component of the country’s long-term energy strategy. The partnership also anticipates participation in the Department of Energy’s upcoming fifth Green Energy Auction (GEA-5), pending regulatory approvals.
“Offshore wind is poised to play a vital role in diversifying the country’s energy mix,” said Eric Francia, President and CEO of ACEN. “ACEN is pleased to partner with CIP, a global leader in the offshore wind sector. We look forward to collaborating on this trailblazing initiative.”
The move underscores CIP and ACEN’s shared aim to accelerate the development of large-scale renewable energy projects in the region.
