Danish firm Copenhagen Infrastructure Partners (CIP) is eyeing to diversify its capital formation for renewable energy (RE) projects in the country, with its investment sight now expanding into solar and energy storage systems.

The Danish firm first entered the Philippine market last year with its $5.0 billion worth of blueprinted offshore and onshore wind projects that will be developed across various sites in the Luzon and Visayas grids.

For the company’s 1.0-gigawatt offshore wind installation at San Miguel Bay in Camarines Sur, this is a facility buildout that it is aggressively pushing forward to commercial fruition before the end of the Marcos administration by 2028.

While advancing development works in the wind technology space, CIP Partner Robert Helms indicated that they are also keenly looking at opportunities for solar as well as energy storage investments.

“We are across the whole technology sector -- so onshore wind, solar, batteries, everything renewable …and we are engaging with the different stakeholders in the country,” he said.

CIP has not given specific details yet on prospects for solar farms or energy storage ventures, but company executives emphasized that they are keenly exploring for opportunities within the development core of these technologies.

And as the company moves forward into the diversification route, it noted that partnership is an investment dimension that they might eventually consider – although at this point, the company stated that it is comfortable undertaking its offshore wind projects on its own.

“In terms of partnerships, we are certainly someone who has a history in partnering. And local partners are always a fantastic anchor point in any country,” Helms stressed.

He, nevertheless, reiterated that for their initial offshore wind foray, “we are very happy that the 60-40 rule has been dropped…now we can actually take these steps on our own.”

Helmes conveyed that “as we go, I mean, we certainly do not exclude the opportunity to find a really good and capable local partner along the way…we would welcome the discussion.”

On the scale of equity that CIP is willing to sell down to a prospective partner, Helms expounded that it will all depend on the appetite as well as the synergy that they will have with that targeted co-venturer.

“There are partners who would take a backseat position because they're not very capable or operationally not very engaged. That would be very small minorities potentially. There are other partners who have prior experience and a totally different ambition to be active in the project; then that would be larger stakes. I think what we have done in the past, we've done everything from minority,” he narrated.