ACEN Invests in Landmark Offshore Wind Project
- July 14, 2025
ACEN Corporation, the listed energy platform of the Ayala Group, is set to acquire a 25% stake in a planned offshore wind development in Camarines Sur, marking a significant step in the Philippines’ transition to clean energy.
The project, led by Copenhagen Infrastructure Partners (CIP) through its Growth Markets Fund II, is poised to become the country’s largest offshore wind installation. With a potential capacity of up to 1 gigawatt (GW), the initiative is estimated to require at least $2 billion in investment.
(Also read: Offshore Wind Challenges: Key Lessons for Philippine Energy Regulators)
Addressing the growing demand for renewables
Located in San Miguel Bay, the project site offers favorable conditions, including strong wind resources, shallow coastal waters, and relatively low typhoon risk. Its proximity to shore and existing grid infrastructure is also expected to reduce development challenges, minimize costs, and support reliable operations.
The deal remains subject to regulatory approvals, including clearance from the Department of Energy under its Green Energy Auction 5.
Supported by CIP’s Growth Markets Fund II, the offshore wind project is expected to enhance grid reliability in Luzon and help address the region’s growing demand for renewable energy.
“The collaboration between the two companies is poised to establish a benchmark for offshore wind in the region and unlock further potential for large-scale clean energy projects,” ACEN said in a statement.
(Also read: Is Offshore Wind Worth It? A Look at Its Pros and Cons)
A partnership to power offshore wind development
Eric Francia, President and CEO of ACEN, expressed confidence in the partnership’s potential, highlighting the strategic importance of offshore wind to the country’s energy future.
“Offshore wind is poised to play a vital role in diversifying the country’s energy mix,” said Francia. “ACEN is pleased to partner with CIP, a global leader in the offshore wind sector. We look forward to collaborate on this trailblazing initiative.”
Robert Helms, Partner at CIP’s Growth Markets Fund II, emphasized the significance of the collaboration and its alignment with national clean energy goals.
“Together with CIP’s offshore wind expertise, we believe that ACEN’s experience and domestic and international track record in project execution and stakeholder management will set a strong foundation for [the] successful development of the Camarines Sur offshore wind project, including anticipated participation in the upcoming first offshore wind auction,” said Helms.
“We are also working towards the ambition of making this one of the first operational offshore wind projects in the Philippines in line with the offshore wind targets set by the current Philippine administration,” Helms continued.
Sources:
https://business.inquirer.net/527793/acen-buys-25-stake-in-camarines-sur-offshore-wind-project
