en.Wedoany.com Reported - The Philippine Department of Finance (DOF) held a meeting with Copenhagen Infrastructure Partners (CIP), focusing on advancing the San Miguel Bay Offshore Wind Project in Camarines Sur Province.

The project, with a planned installed capacity of 901 megawatts and an investment of $3 billion, is expected to become the first offshore wind farm in the Philippines and Southeast Asia. It is held by a joint venture established by CIP and ACEN Corporation, in which ACEN acquired a 25% stake in 2025.

According to a statement released by the Philippine Department of Finance on June 29, Finance Secretary Frederick D. Go discussed key project milestones, financing arrangements, and preparations for the next round of the Green Energy Auction (GEA) with CIP representatives during the meeting.

The Philippine Department of Energy (DOE) launched the pre-qualification for the fifth round of the Green Energy Auction (GEA-5) in March this year, marking the official start of the country's first offshore wind auction. This round will offer 3.3 gigawatts of installed capacity, scheduled for delivery between 2028 and 2030. According to the DOE announcement, the pre-qualification period will last until early July 2026, with the bidding process set to commence at the end of next month. The entire auction procedure is expected to be completed by the end of September, with the announcement of provisional winning bidders.

In January this year, the provincial government of Camarines Sur, where the project is located, revealed that the San Miguel Bay Offshore Wind Farm site covers an area of approximately 23,307 hectares. Construction is planned to start in July this year, with the target of achieving commercial operation in the third quarter of 2028.