Copenhagen Infrastructure Partners (CIP) has agreed to sell a 25% stake in the San Miguel Bay offshore wind project in Camarines Sur, the Philippines.
The agreement is with ACEN, the listed energy company of the Ayala Group, and it is subject to regulatory approvals.
This will likely be one of the Philippines’ first offshore wind projects with a potential installed capacity of up to 1 GW. The location is near the coast of San Miguel Bay in Camarines Sur, in shallow water depths and close to the shore and the nearest substation.
The in-bay location also presents a reduced risk from typhoons.
Currently the project is in its pre-development stage in anticipation of the Department of Energy’s 5th round of the Green Energy Auction (GEA-5), and it has to undergo regulatory approvals. But it should help strengthen the Luzon grid to support the Philippines' rising energy demands.
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