CIP advance San Miguel Bay offshore wind project talks
Investment czar and Finance Secretary Frederick D. Go has met with Copenhagen
Infrastructure Partners (CIP) to discuss the San Miguel Bay offshore wind
project.
The project is a joint venture between CIP and ACEN Corp. Once completed,
it is expected to have a capacity of 1GW, marking a significant milestone
as the first offshore wind farm in the Philippines and Southeast Asia.
The development aligns with the Philippine Energy Plan 2023–2050, which
targets more than 50% renewable energy in the country’s power mix by 2040,
strengthening energy security and efficiency.
Discussions between the parties covered key project milestones, financing
arrangements, and participation in the upcoming Green Energy Auction, highlighting
an important stage in the project’s development.
For more information about offshore wind
farm projects across the globe, click
here.