ACEN backs 1GW Camarines offshore wind project

ACEN Corporation approved additional funding for the Camarines Offshore Wind Project, its joint venture with Copenhagen Infrastructure Partners (CIP), as part of its 2026 business plan and budget.

The decision was made during ACEN’s regular board meeting on November 10, 2025, though the amount of funding remains undisclosed.

The Camarines Offshore Wind Project is poised to become one of the Philippines’ first utility-scale offshore wind developments, with a potential installed capacity of up to 1 gigawatt.

Currently in the pre-development stage, the project is targeting participation in the Department of Energy’s Green Energy Auction as it advances toward commercial deployment.

The wind project is expected to contribute significantly to the Luzon grid’s clean energy mix, aligning with the Philippines’ long-term decarbonization and energy security goals.

ACEN earlier acquired a 25% minority interest in the project’s holding company in early 2025, reinforcing its strategic expansion into offshore wind.

The project has already secured key regulatory milestones, including Green Lane status from the Board of Investments in 2024 and a Certificate of Energy Project of National Significance, ensuring fast-tracked permit and license processing.

The funding approval comes on the heels of CIP’s reaffirmation to invest USD 3 billion in developing its first offshore wind farm in Camarines Sur.

The Camarines venture marks CIP’s entry into Southeast Asia and is seen as a catalyst for future offshore wind investments in the region.

Last week, CIP executives met with President Ferdinand R. Marcos Jr. in Malacañang, where they reaffirmed their optimism in the Philippine renewable energy sector.

CIP said it remained committed to its partnership with ACEN Renewable Energy Solutions, underscoring their shared vision of accelerating the country’s transition to clean power.