The Marcos administration is intensifying efforts to bring Southeast Asia’s first offshore wind farm to the Philippines, with Finance Secretary and investment czar Frederick D. Go engaging global infrastructure investor Copenhagen Infrastructure Partners (CIP) to advance the 901-megawatt San Miguel Bay Offshore Wind Power Project in Camarines Sur.
The high-level talks move one of the country’s largest renewable energy investments closer to construction, underscoring the government’s push to attract strategic capital that strengthens energy security while supporting long-term economic growth.
Discussions focused on project development, financing plans and preparations for the upcoming Green Energy Auction, with CIP outlining its funding strategy, including potential partnerships with government financial institutions. Go reaffirmed the administration’s support for offshore wind as a key pillar of the country’s clean energy transition.
Go said offshore wind will play an increasingly important role in diversifying the Philippines’ energy mix and meeting the growing electricity demand of households and industries. He added that multinational companies are increasingly looking for reliable renewable power sources to meet their sustainability commitments, making clean energy investments a competitive advantage for the country.
Beyond expanding renewable energy capacity, the project is expected to generate thousands of direct and indirect jobs, stimulate economic activity in Camarines Sur and neighboring provinces, and contribute to the renewable energy targets under the Philippine Energy Plan 2023–2050.
The engagement also reflects growing international confidence in the Philippines’ renewable energy sector. CIP, one of the world’s largest dedicated renewable energy fund managers with about $43 billion raised from more than 200 institutional investors, is expanding its presence in the country, reinforcing the Philippines’ appeal as a destination for large-scale green infrastructure investments amid the global shift toward cleaner energy.
