CIP selects partner for Camarines Sur offshore wind project in the Philippines

The offshore windfarm, which could become one of the Philippines’ first offshore wind projects, has a potential installed capacity of up to 1 GW.

One of the most advanced offshore wind projects in the country, the proposed offshore windfarm is off the coast of San Miguel Bay in Camarines Sur in an area with good wind resources and shallow water. ACEN said its location also means it has a reduced typhoon risk.

The project is currently in a predevelopment stage in anticipation of the Department of Energy’s 5th round of the Green Energy Auction and will be subject to relevant regulatory approvals. If it goes ahead, it will play an important role in strengthening the Luzon grid and meeting the Philippines’ growing demand for green energy.

ACEN president and chief executive Eric Francia said, “Offshore wind is poised to play a vital role in diversifying the country’s energy mix. ACEN is pleased to partner with CIP, a global leader in the offshore wind sector. We look forward to collaborating on this trailblazing  initiative.”

CIP Growth Markets Fund II partner Robert Helms said, “We are delighted to enter into this landmark partnership with ACEN, one of the most experienced renewable energy developers in the Philippines.

“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 successful development of the Camarines Sur offshore wind project, including anticipated participation in the upcoming first offshore wind auction. 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.”

Since obtaining a Wind Energy Service Contract in 2023, the project has achieved several significant development milestones. In February 2024, the Camarines Sur offshore wind project was granted ‘Green Lane’ status by the Philippine Board of Investments to help expedite the processing of necessary licences and permits.

In October 2024, the project received a Certificate of Energy Project of National Significance, granting it priority processing and expedited approvals from permitting agencies, government agencies, local government units, and other relevant authorities.

Additionally, in October 2024, it received a predevelopment Environmental Compliance Certificate, enabling commencement of offshore site surveying. In February 2025, the project signed a Connection Agreement with the National Grid Corporation of the Philippines securing access to grid connection.