Acen Acquires Minority Stake in Offshore Wind Project in the Philippines

Acen, a subsidiary of the Ayala group, has recently inked definitive agreements with Copenhagen Infrastructure Partners (CIP) to purchase a 25% minority stake in the planned offshore wind project in the Philippines.

The acquisition of the stake in the 1GW offshore wind farm was completed for an undisclosed sum from CIP’s Growth Markets Fund II. This project is poised to become one of the pioneering offshore wind ventures in the Philippines.

Situated near the coast of San Miguel Bay, the project capitalizes on advantageous site conditions such as ample wind resources, shallow water depths, and close proximity to the shore and the nearest substation. Additionally, its in-bay location offers a reduced typhoon risk.

The project is currently in its pre-development phase in anticipation of the Department of Energy’s 5th round of the Green Energy Auction and will be subject to the necessary regulatory approvals.

Having secured a Wind Energy Service Contract in 2023, the project was granted Green Lane status in February 2024 to facilitate the processing of essential licenses and permits.

In October 2024, the project attained a Certificate of Energy Project of National Significance, affording it priority treatment during processing and expediting approvals. Subsequently, in February 2025, the project finalized a connection agreement with the National Grid Corporation of the Philippines, ensuring access to grid connection.