The Philippines’ Department of Finance (DOF) has met with Copenhagen Infrastructure Partners (CIP) to discuss the development of the San Miguel Bay offshore wind project in Camarines Sur.
The project, expected to become the first offshore wind farm in the Philippines and Southeast Asia, is owned by a joint venture between CIP and ACEN Corporation, which acquired a 25 per cent stake in 2025.
In November last year, CIP said the San Miguel Bay offshore wind farm, planned to have an installed capacity of 901 MW, represented an investment of USD 3 billion .
At the recently held meeting, Finance Secretary Frederick D. Go and representatives from CIP discussed key project milestones, financing arrangements, and preparations for the upcoming Green Energy Auction (GEA), according to a social media post from the Philippines’ Department of Finance on 29 June.
The Philippines’ Department of Energy (DOE) opened a pre-qualification period for the Fifth Auction Round of the Green Energy Auction (GEA-5) in March this year. This marked the official start of activities for the country’s first offshore wind auction, which will offer 3.3 GW capacity for delivery between 2028 and 2030.
The qualification period is scheduled to last until early July 2026, with the bidding process to start at the end of next month. The auction procedure will take until the end of September to complete and for the provisional winning bidders to be announced, according to a notice the DOE issued on 2 March.
In January this year, the government of the province of Camarines Sur , in whose waters CIP’s project is planned to be built, said that the San Miguel Bay offshore wind project will be built at a site spanning approximately 23,307 hectares and that “construction is targeted to begin by July this year, with commercial operations expected to begin by the third quarter of 2028.”