CIP signed agreement with ACEN to sell 25% stake in the San Miguel Bay offshore wind project in Camarines Sur

Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, signed an agreement with ACEN, the Ayala Group’s listed energy platform, to sell a 25% minority stake in the San Miguel Bay offshore wind project in Camarines Sur, Philippines.

The project is poised to be among the Philippines’ pioneering offshore wind developments, with a planned capacity of up to 1 GW. CIP, through its Growth Markets Fund II, has partnered with a local entity that offers strong capabilities in stakeholder engagement to help move the project forward. ACEN, known for its robust track record in renewable energy, provides valuable on-the-ground experience that complements CIP’s global technical know-how.

Recognised as one of the Philippines’ most advanced offshore wind projects, the development near San Miguel Bay in Camarines Sur benefits from highly favourable site conditions. These include strong wind availability, shallow waters that ease construction and maintenance, and convenient access to the coastline and a nearby substation. Additionally, its sheltered in-bay setting reduces exposure to typhoons, enhancing the project's operational resilience.

The project is currently in its pre-development stage in anticipation of the Department of Energy’s 5th round of the Green Energy Auction (GEA-5) and will be subject to relevant regulatory approvals. It will play a crucial role in strengthening the Luzon grid and meeting the Philippines' rising energy demand with sustainable power.