5 November 2025 — Denmark’s Copenhagen Infrastructure Partners (CIP) will invest USD 3 billion (EUR 2.6 billion) to develop its first offshore wind project in the Philippines and Southeast Asia.
The project will be located in Camarines Sur and developed in partnership with ACEN Renewable Energy Solutions, part of the Ayala Group.
During a press briefing, Presidential Communications Office Undersecretary Claire Castro said that CIP’s decision reflects the Philippines’ favorable coastal conditions and President Ferdinand Marcos Jr.’s policy commitment to accelerating renewable energy adoption. “The company emphasized that it chose to invest in the Philippines because of its favorable location and the President’s strong commitment to transitioning toward renewable energy,” Castro said.
CIP entered the Philippine market in May 2025, signing an agreement with ACEN to sell a 25% stake in the San Miguel Bay Offshore Wind Farm, an up to 1 GW project off the coast of Camarines Sur.
The investment supports the Marcos administration’s renewable energy targets — increasing the renewable share in the national power mix to 35% by 2030 and 50% by 2040.
In 2023, CIP secured 25-year Offshore Wind Service Contracts from the Department of Energy (DOE) for three offshore wind projects totaling 2 GW in capacity: 1 GW in Camarines Norte and Camarines Sur, 650 MW in Northern Samar, and 350 MW in Dagupan.
CIP, which manages more than €28 billion (USD 32.2 billion) in renewable energy assets, became the first fully foreign-owned company to invest in offshore wind in the Philippines following the 2022 removal of foreign ownership restrictions on renewable energy projects.
