ACEN, the Ayala Group’s listed energy platform, has signed definitive agreements with Copenhagen Infrastructure Partners’ (CIP) Growth Markets Fund II to acquire a 25% minority stake in CIP’s proposed offshore wind project in Camarines Sur. The agreement marks a major milestone for the Philippine energy sector as it sets the stage for the country’s first large-scale offshore wind project, with a potential installed capacity of up to 1 GW.
Positioned near San Miguel Bay, the project leverages favorable site conditions such as shallow waters, high wind availability, and proximity to transmission infrastructure. Its in-bay location also offers reduced typhoon exposure—an operational advantage in a region prone to severe weather.
The project remains in pre-development and is anticipated to participate in the Department of Energy’s 5th Green Energy Auction (GEA-5), pending necessary regulatory approvals. Once operational, it is expected to strengthen the Luzon grid and help meet the country’s growing power demands with clean energy.
Since receiving its Wind Energy Service Contract (WESC) in 2023, the project has made steady progress. It earned Green Lane status from the Board of Investments in February 2024 and was granted a Certificate of Energy Project of National Significance and a pre-development Environmental Compliance Certificate in October 2024. In February 2025, it secured a grid connection agreement with the National Grid Corporation of the Philippines.
“Offshore wind is poised to play a vital role in diversifying the country’s energy mix. ACEN is pleased to partner with CIP, a global leader in the offshore wind sector. We look forward to collaborating on this trailblazing initiative,” said Eric Francia, President and CEO of ACEN.
The landmark deal builds on ACEN’s existing renewable energy portfolio of approximately 7 GW across Asia-Pacific markets including the Philippines, Australia, Vietnam, India, Laos, and Indonesia.
CIP, a global leader in greenfield energy investments, selected ACEN for its strong local presence and renewable energy expertise.
Robert Helms, Partner at CIP’s Growth Markets Fund II, said, “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 successful development of the Camarines Sur offshore wind project, including anticipated participation in the upcoming first offshore wind auction.”
The collaboration between ACEN and CIP is expected to set an important precedent for large-scale offshore wind development in the Philippines and across the region.
Is this the turning point for offshore wind in the Philippines? Share your thoughts on the implications of this landmark development. Reach out or comment to join the conversation.
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