Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, has signed an agreement with ACEN, the listed energy company of the Ayala group, to…
Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, has signed an agreement with ACEN, the listed energy company of the Ayala group, to sell a 25% minority stake in the San Miguel Bay offshore wind project in Camarines Sur subject to applicable regulatory approvals.
The project is set to become one of the Philippines' first offshore wind projects with a potential installed capacity of up to 1 GW.
CIP and its Growth Markets Fund II has sought a local partner with deep expertise in stakeholder management to advance the project. ACEN, with its strong credentials in renewable energy, brings the necessary experience to complement CIP’s technological expertise.
Positioned as among the most advanced offshore wind initiatives in the country, the project, located near the coast of San Miguel Bay in Camarines Sur, leverages strategic site conditions, including abundant wind resources, shallow water depths to mitigate offshore wind challenges, and close proximity to the shore and the nearest substation. Its in-bay location also presents a lower typhoon risk, further ensuring stability in operations.
The project is currently in its pre-development
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