Danish renewable energy investor Copenhagen Infrastructure Partners (CIP) will develop its first offshore wind project in Southeast Asia, committing USD 3 billion to a major wind farm in the Philippines.
The plan was formalised during a meeting between CIP executives and Philippine President Ferdinand R. Marcos Jr. in Manila. According to the Presidential Palace, the investment reflects strong confidence in the Philippines’ renewable energy ambitions and improving investment climate.
The offshore wind project will be located in Camarines Sur and carried out in partnership with ACEN Renewable Energy Solutions, part of Ayala Group’s energy arm ACEN Corp. The development forms part of the government’s push to expand renewable capacity and reduce reliance on imported fossil fuels.
Palace Press Officer Claire Castro said the venture demonstrates sustained interest from foreign companies. “This kind of investment proves that foreign investors continue to have strong confidence in investing in the Philippines,” she noted.
CIP operates one of the world’s largest renewable energy investment platforms, with more than €28 billion in assets under management across large-scale offshore wind, solar and energy storage projects worldwide.
CIP’s move into the Philippines marks a milestone for Danish green energy involvement in Southeast Asia, as the region increasingly looks to accelerate its clean energy transition.
Source: Bilyonaryo