ACEN Acquires 25% Stake in 1GW Camarines Sur Offshore Wind Project

Ayala-led ACEN Corp. has acquired a 25% minority stake in Copenhagen Infrastructure Partners' (CIP) Growth Markets Fund II for a proposed 1 GW offshore wind project off the coast of Camarines Sur, Philippines. The Camarines Sur project, positioned near San Miguel Bay, benefits from abundant wind resources, shallow waters, and a lower typhoon risk due to its in-bay location, making it one of the country’s most advanced offshore wind initiatives. Currently in its pre-development phase, the project has secured several key approvals including a Wind Energy Service Contract in 2023, Green Lane status to expedite permits, a Certificate of Energy Project of National Significance, a pre-development Environmental Compliance Certificate, and a grid connection agreement with the National Grid Corporation of the Philippines. ACEN and CIP aim to participate in the Department of Energy’s upcoming 5th Green Energy Auction, with the project expected to help diversify the Philippines’ energy mix, strengthen the Luzon grid, and support the nation’s green energy goals. Both companies emphasize the strategic importance of this partnership in advancing one of the first offshore wind farms in the Philippines, aligning with national offshore wind targets and accelerating the country’s energy transition.