President Ferdinand R. Marcos Jr. recently welcomed a landmark investment commitment from Danish renewable energy firm Copenhagen Infrastructure Partners (CIP) to build a US $3 billion offshore wind-farm project in the Philippines.
The investment will kick off with the 1-gigawatt San Miguel Bay project in Camarines Sur, marking CIP’s first major entry into Southeast Asia.
In a statement, the Palace said the deal is not just a vote of confidence in the Philippines’ renewable-energy potential but also in the administration’s policy reforms facilitating greater foreign participation in the sector.
Key highlights:
- CIP’s investment targets offshore wind infrastructure, with 1 GW for the first phase and a wider pipeline of up to 2 GW in the early stages.
- The Philippines aims to accelerate its clean-energy transition—offshore wind being a strategic priority due to its minimal land-use footprint and high potential output.
- The investment supports the government’s ambition to diversify the power mix, reduce dependence on fossil fuels and strengthen energy security. President Marcos described the deal as a “milestone” for the country’s green-investment trajectory.