CIP to Sell Stake in 1GW Philippines Project

Copenhagen Infrastructure Partners (CIP) has agreed to sell a 25% stake in a 1-gigawatt offshore wind project in Camarines Sur, Philippines, to ACEN, the energy arm of the Ayala group. The San Miguel Bay offshore wind project, managed through CIP’s Growth Markets Fund II, is positioned to be among the Philippines’ first offshore wind developments, contributing to the nation’s clean energy goals.

Located off the coast of San Miguel Bay, the project benefits from favorable conditions, including strong wind resources, shallow waters, and proximity to shore and a substation. Its in-bay location reduces typhoon risks, ensuring operational stability. Currently in pre-development, the project awaits participation in the Department of Energy’s 5th Green Energy Auction (GEA-5) and requires regulatory approvals. Once operational, it will bolster the Luzon grid, meeting rising energy demands with sustainable power for domestic consumption.

CIP sought a local partner with expertise in stakeholder engagement, selecting ACEN for its extensive experience in renewable energy. The partnership combines CIP’s offshore wind technical knowledge with ACEN’s project execution capabilities, aiming to set a standard for offshore wind in the region and support large-scale clean energy initiatives.

Robert Helms, Partner at CIP’s Growth Markets Fund II, stated: “We are delighted to enter into this landmark partnership with ACEN, one of the most experienced renewable energy developers in the Philippines. 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.” He added: “This includes anticipated participation in the upcoming first offshore wind auction. We are also working towards the ambition of making our project one of the first operational offshore wind projects in the Philippines.”

Eric Francia, President and CEO of ACEN, commented: “Offshore wind is poised to play a vital role in diversifying the country’s energy mix. 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 collaboration supports the Philippines’ energy transition, enhancing local energy supply without impacting trade dynamics.