ACEN Corporation has taken a massive leap forward in its renewable energy expansion by acquiring a 25% stake in a company that’s developing what could become the Philippines’ first large-scale offshore wind project.

In a disclosure to the Philippine Stock Exchange, ACEN confirmed that it signed a Deed of Absolute Sale with CI NMF Philippines C.V. on June 23, 2025. The agreement covers the purchase of 29,500 common shares in CI GMF II Camarines Offshore Wind Energy Corporation, roughly equivalent to a 25% equity interest, for a total consideration of PHP2.95 million.

The move is part of ACEN’s strategic partnership with Copenhagen Infrastructure Partners (CIP) to pursue a 1,000-megawatt (1 GW) offshore wind project in the provinces of Camarines Sur and Camarines Norte. The agreement follows an earlier Share Purchase and Loan Agreement signed on May 28, 2025, between ACEN, CI NMF Philippines C.V., and CI GMF II COOPERATIEF U.A.

CI GMF II Camarines Offshore Wind Energy Corporation will act as the holding company of CI NMF (PH) Corp., which is set to develop, construct, operate, and maintain the wind facility.

ACEN stated that the acquisition supports its growth strategy and highlights its commitment to accelerating the country’s energy transition. The company views offshore wind as a critical part of its efforts to expand its renewable energy portfolio in the Philippines.

The transaction, which received board approval on March 10, 2025, involved full payment in cash, based on a share price of PHP 100, which is the par value of the acquired shares. There were no additional conditions or other special terms attached to the deal.

This latest development follows ACEN’s original disclosure to the SEC on May 28, 2025, under Circular No. C03805-2025.

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