Denmark firm Copenhagen Infrastructure Partners (CIP) is gearing up to invest USD 30 million in the Philippines by the middle of 2025, focusing on development activities ahead of the Green Energy Auction Program (GEAP).
In a report by Business World, CIP Partner Robert Helms said the firm intended to spend around USD 30 million by mid-2025, with a portion of the investment already contractually committed.
When asked about future ventures, Helms said CIP remains open to exploring other renewable energy technologies, such as solar and battery energy storage systems.
Meanwhile, CIP Associate Partner Przemek Lupa explained that the company is actively working on procuring components and conducting geotechnical and geophysical surveys for its projects.
Last year, the Department of Energy (DOE) signed three offshore wind service contracts with Copenhagen Infrastructure New Markets Fund, an affiliate of CIP.
These three projects, with a combined capacity of 2,000 megawatts (MW), would be established in Pangasinan, Northern Samar, and Camarines Sur. Each service contract would span 25 years.
Additionally, the firm is developing a 1,000-gigawatt (GW) offshore wind project in San Miguel Bay, Camarines Sur; a 650-MW project in Northern Samar; and a 350-MW project in Pangasinan.
In addition to offshore projects, the company is preparing a 300-MW onshore wind project in Northern Luzon.
GEAP is part of the government’s initiative to boost the renewable energy share in the energy mix to 35% by 2030 and 50% by 2040.
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