ACEN Corp., the energy platform of the Ayala Group, has signed definitive agreements to acquire a 25% minority stake in Copenhagen Infrastructure Partners’ (CIP) proposed 1-gigawatt offshore wind project in Camarines Sur, marking a major step toward the Philippines’ first large-scale offshore wind development.
The transaction, made through CIP’s Growth Markets Fund II, is subject to regulatory approvals and aligns with the country’s broader energy transition agenda.
The project—positioned near San Miguel Bay—is one of the most advanced offshore wind efforts in the Philippines, with favorable shallow-water conditions, low typhoon risk, and proximity to critical grid infrastructure.
“Offshore wind is poised to play a vital role in diversifying the country’s energy mix,” said ACEN President and CEO Eric Francia. “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 wind project has made significant regulatory strides since receiving its Wind Energy Service Contract (WESC) in 2023.
It was granted Green Lane status by the Board of Investments in early 2024 and classified as a Project of National Significance by the Department of Energy, accelerating permitting and approval timelines.
The venture also secured its Environmental Compliance Certificate and signed a grid connection agreement with the National Grid Corporation of the Philippines in February 2025.
Robert Helms, Partner at CIP, said the deal establishes a “strong foundation for the successful development of the Camarines Sur offshore wind project,” highlighting the local experience of ACEN in stakeholder management and project execution. “We are working towards the ambition of making this one of the first operational offshore wind projects in the Philippines,” Helms added.
The project is expected to participate in the Department of Energy’s 5th Green Energy Auction (GEA-5) as it moves toward development. Once operational, it will significantly strengthen the Luzon grid and help meet the region’s growing power demand with clean energy.
CIP and ACEN’s partnership is seen as a key catalyst in unlocking the Philippines’ vast offshore wind potential and positioning the country as a regional leader in clean energy infrastructure.
Business News Asia