Copenhagen Infrastructure Partners (CIP) has signed an agreement with ACEN, the listed energy company of the Ayala Group, to sell a 25 per cent minority stake in the up to 1 GW San Miguel Bay offshore wind farm in the Philippines.
CIP said that the company and its Growth Market Fund II have sought a local partner with deep expertise in stakeholder management to advance the San Miguel Bay offshore wind project.
ACEN brings the necessary experience to complement CIP’s technological expertise, according to the Danish company.
“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,” said Robert Helms , Partner at CIP’s Growth Markets Fund II.
“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 in line with the targets set by the current Philippine administration.”
With a potential capacity of up to 1 GW, San Miguel Bay is set to become one of the Philippines’ first offshore wind projects.
The wind farm is located near the coast of San Miguel Bay in Camarines Sur. The project leverages strategic site conditions, including abundant wind resources, shallow water depths to mitigate offshore wind challenges, and close proximity to the shore and the nearest substation.
San Miguel Bay is currently in its pre-development stage in anticipation of the Department of Energy’s 5th round of the Green Energy Auction, which is scheduled to commence in the third quarter of 2025.
In addition to San Miguel Bay, CIP is proposing to develop two other projects in the Philippines.
Copenhagen Offshore Partners (COP) is leading development for three offshore wind sites in the Philippines, totaling 2 GW of capacity, on behalf of CIP.
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