Copenhagen Infrastructure Partners (“CIP”), through its Growth Markets Fund II, has signed an agreement with ACEN to sell a 25% minority stake in the San Miguel Bay offshore wind project in the Philippines.
The project is set to become of the Philippines’s first offshore wind projects with a potential installed capacity of up to 1 GW. It will play a crucial role in strengthening the Luzon grid and meeting the Philippines’ rising energy demand with sustainable power.
CIP has sought a local partner with deep expertise in stakeholder management to advance the project. ACEN, with its strong credentials in renewable energy, brings the necessary experience to complement CIP’s technological expertise. The collaboration between the two companies is poised to establish a benchmark for offshore wind in the region and unlock further potential for large-scale clean energy projects.
The project is currently in its pre-development stage and will be subject to relevant regulatory approvals.
Accura advised CIP in all aspects regarding the transaction, including preparation and negotiation of SPA and owner agreement.
Accura’s global-leading Renewable Energy Team consists of more than 100 experts, providing advice exclusively on renewable energy.