The Philippine government and Copenhagen Infrastructure Partners (CIP) have discussed progress on the San Miguel Bay offshore wind project, with talks covering project development, financing, and preparations for the country’s first offshore wind auction.
According to a social media post published by the Philippines’ Department of Finance (DOF) on 29 June, Finance Secretary Frederick D. Go met with representatives from CIP to review key project milestones, financing arrangements, and readiness for the upcoming Fifth Green Energy Auction (GEA-5).
The San Miguel Bay offshore wind project, located in the waters of Camarines Sur, is being developed through a joint venture between CIP and ACEN Corporation. ACEN Corporation acquired a 25% stake in the project in 2025.
The project is expected to become the first offshore wind farm in the Philippines and Southeast Asia. It is planned to have an installed capacity of 901 MW. CIP said in November last year that the development represents an investment of about $3 billion.
The Department of Energy (DOE) opened the pre-qualification period for GEA-5 in March 2026, marking the start of the country’s first offshore wind auction. The auction will offer 3.3 GW of offshore wind capacity for delivery between 2028 and 2030.
The qualification period is scheduled to continue until early July 2026. Bidding is set to begin at the end of July, with the auction process expected to conclude by the end of September, when provisional winning bidders are scheduled to be announced.
Earlier this year, the Camarines Sur provincial government said the San Miguel Bay offshore wind project would cover approximately 23,307 hectares. It also said construction is targeted to begin by July 2026, with commercial operations expected to start in the third quarter of 2028.
