Copenhagen Infrastructure Partners (CIP) has entered into a partnership with Philippine energy company ACEN to develop a 1 GW offshore wind project in Camarines Sur. The project is among the most advanced in the Philippines and is expected to set the standard for the country's future offshore development.
- The partnership with ACEN combines local roots and experience with our technical offshore competences. The goal is to realize one of the Philippines' first operational offshore wind projects, says Robert Helms, partner in CIP's Growth Markets Fund II.
The project in San Miguel Bay takes advantage of favorable conditions such as shallow seabed, stable wind resources and lower typhoon risk.
The combination makes the area suitable for offshore installations - and CIP's know-how from the North Sea and other global projects is brought into play in a market that is now seriously opening up to offshore wind.
With the collaboration, CIP adds another market to its global footprint. CIP's Growth Markets Fund II strategy includes investments in green energy facilities in emerging economies – with a particular focus on exporting Danish project development, financing and technology.
For Danish suppliers in the offshore industry, the project is a potential entry point into the Philippines and the wider ASEAN market, which with over 600 million people faces massive needs for sustainable electrification and grid reinforcement.
ACEN has approximately 7 GW of green capacity in its portfolio across the Philippines, Australia, Vietnam and India – and is expected to contribute with strong stakeholder management and local presence, which are crucial for navigating the regulatory landscape.
The project is expected to participate in the first auction for offshore wind in the Philippines.
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