Denmark’s COP open to more investors for Luzon offshore wind farm

DENMARK’S Copenhagen Offshore Partners (COP) said it is open to bringing in additional investors for its $3-billion offshore wind project in southern Luzon, which is set to become one of the Philippines’ first offshore wind farms.

“So for sure, we will retain control and at least 50% until the project is fully completed. That is the principle of CIP (Copenhagen Infrastructure Partners), and we have always done like that,” COP Chief Executive Officer Rune Damgaard told reporters last week.

COP, through its affiliate Copenhagen Infrastructure New Market Fund Philippines Corp., plans to develop an offshore wind farm off the coast of San Miguel Bay, with a potential capacity of up to 1,000 megawatts (MW) of electricity.

According to its filing with the Department of Environment and Natural Resources (DENR) last year, the large-scale wind farm is expected to be completed by the third quarter of 2028.

Mr. Damgaard said the company aims to submit its application for an environmental compliance certificate, a permit issued by the DENR, before the start of the summer season.

Last year, ACEN Corp., the listed energy unit of the Ayala group, acquired a 25% minority stake in the project for P2.95 million, marking its entry into offshore wind.

“The objective was to bring in an experienced partner because we may have the experience in doing offshore wind around the world, but they have the experience in operating in the Philippines. Therefore, the combined efforts of the two, we saw a success recipe,” Mr. Damgaard said.

ACEN President and Chief Executive Officer Eric T. Francia said the company is not planning additional offshore wind projects at the moment, choosing instead to focus on the San Miguel venture.

“I think we will focus on this joint venture first so that we learn because it’s a new technology for us… We’re not looking to do another offshore wind project at this point. We’ll focus on this one first. Kailangang matuto muna (We need to learn it first),” he said.

Aside from the San Miguel Bay project, CI NMF is also proposing a 650-MW offshore wind farm in Northern Samar and a 350-MW project in Dagupan, Pangasinan.

These projects are among 16 frontrunners supported by the Department of Energy (DoE), which has committed to delivering more than 16 gigawatts (GW) of new renewable capacity. The DoE plans to hold the country’s first green energy auction dedicated exclusively to offshore wind this year, targeting 3.3 GW of installations.

The Philippines aims to generate its first offshore wind output by 2028 as it seeks to diversify its energy mix and reduce dependence on fossil fuels. — Sheldeen Joy Talavera