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Manila Bulletin devider Business devider The Stock Market devider ACEN secures loan for Philippines' first large-scale offshore wind project

ACEN secures loan for Philippines' first large-scale offshore wind project

Published Jun 24, 2025 11:04 am
Ayala-led ACEN Corporation has secured a loan agreement with a Danish firm to develop the Philippines' first large-scale offshore wind project.
In a disclosure to the Philippine Stock Exchange on Tuesday, June 24, ACEN said the company executed a share purchase and loan agreement with CI NMF Philippines C.V. and CI GMF II Cooperatief U.A.
The partnership aims to advance the one-gigawatt (GW) offshore wind development, located off the coasts of Camarines Sur and Camarines Norte. The project is a collaboration between ACEN and Danish firm Copenhagen Infrastructure Partners (CIP).
Following the agreement, ACEN acquired 29,500 common shares of CI GMF II Camarines Offshore Wind Energy Corporation from CI NMF Philippines C.V. for a total purchase price of ₱2.9 million.
The transaction supports ACEN’s growth by marking its entry into the country’s first large-scale offshore wind project, ACEN stated. With a potential capacity of up to 1 GW, the project will expand the Company’s renewable energy portfolio and help strengthen its role in the country’s clean energy transition.
ACEN noted that the offshore wind project is currently in its pre-development stage and is awaiting the fifth round of the Department of Energy's (DOE) Green Energy Auction (GEA-5). Once operational, the project is expected to significantly boost the Luzon grid and help meet rising power demand with renewable energy.
The project has already received key government support. In February 2024, the Board of Investments (BOI) granted it Green Lane status, which aims to expedite government licensing and permitting. It also secured a Certificate of Energy Project of National Significance (CEPNS) in October and a pre-development Environmental Compliance Certificate (ECC).

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