ACEN Corporation has approved additional development funding for the Camarines Offshore Wind Project, a joint venture with Copenhagen Infrastructure Partners (CIP), as part of its 2026 business plan and budget. This project is positioned to be one of the Philippines’ first large-scale offshore wind developments with a potential installed capacity of up to 1 gigawatt. The funding allocation, which has yet to be disclosed, was confirmed during ACEN’s regular board meeting on November 10, 2025.

ACEN acquired a 25% minority stake in the project’s holding company earlier in 2025, marking a strategic step to expand its renewable energy portfolio. The Camarines Offshore Wind Project has secured several milestones, including Green Lane status from the Philippine Board of Investments in 2024 and a Certificate of Energy Project of National Significance, which gives it priority processing in permits and licenses.

The project is currently in pre-development and anticipates participation in the Department of Energy’s Green Energy Auction. It is expected to provide substantial clean energy to the Luzon grid, advancing the Philippines’ energy transition goals.

The board’s approval for additional funding comes shortly after Danish renewable energy fund manager CIP reaffirmed its commitment to invest USD 3 billion in building its first offshore wind farm in Camarines Sur. This marks CIP’s inaugural project in Southeast Asia and represents a significant boost to the Philippines’ clean energy transition goals.

CIP officials last week met with President Ferdinand R. Marcos Jr. at Malacañang Palace, where they expressed continued confidence in the country’s renewable energy sector through their partner, ACEN Renewable Energy Solutions.

How do you see the additional funding for the Camarines Offshore Wind Project impacting the Philippines’ renewable energy capacity and foreign investment landscape? What challenges or opportunities should stakeholders anticipate as this project progresses?

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