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Yahoo
29-05-2025
- Business
- Yahoo
Energy Transition Update - Philippines Offshore Wind Project: A Major Sustainable Energy Leap
Copenhagen Infrastructure Partners and ACEN have announced a partnership to develop the first large-scale offshore wind project in the Philippines, located near San Miguel Bay in Camarines Sur. With a potential installed capacity of up to 1 GW, this initiative marks a significant step in harnessing the country's offshore wind resources, aiming to meet growing energy demand with sustainable power. The project, supported by strategic site conditions and a strong local partnership, underscores a commitment to accelerate the energy transition in the Philippines. Currently in its pre-development stage, it awaits regulatory approvals and anticipates participation in the upcoming Department of Energy's Green Energy Auction. In other trading, was a notable mover up 9.6% and finishing the session at HK$11.64. In the meantime, lagged, down 6.3% to finish the session at $64.23. A. O. Smith is leveraging strategic expansion and operational optimizations to potentially enhance profitability despite external pressures. Discover the full narrative on how these initiatives could impact the company's financial future. For more on this topic, don't miss our Market Insights article, "Automakers Caught In The Tariff Crossfire," which explores the intricate challenges faced by automakers amid shifting markets and tariffs. Get in fast before the landscape changes. closed at $156.45 up 0.5%. ended the day at $136.02 down 1.3%, hovering around its 52-week low. This week, Chevron amended its corporate bylaws to allow officer exculpation following stockholder approval. finished trading at $356.90 down 1.7%. Reveal the 156 hidden gems, such as Bharat Heavy Electricals, Wärtsilä Oyj Abp and EMCOR Group, among our Energy Transition Stocks screener with a single click here. Interested In Other Possibilities? We've found 17 US stocks that are forecast to pay a dividend yeild of over 6% next year. See the full list for free. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sources: Simply Wall St "Copenhagen Infrastructure Partners and ACEN to team up on the Philippines' first large-scale offshore wind project" from Copenhagen Infrastructure Partners on GlobeNewswire (published 29 May 2025) Companies discussed in this article include SEHK:412 NasdaqGS:FSLR NYSE:CVX NasdaqGS:TSLA and NYSE:AOS. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
29-05-2025
- Business
- Globe and Mail
Copenhagen Infrastructure Partners and ACEN to team up on the Philippines' first large-scale offshore wind project
COPENHAGEN, Denmark, May 29, 2025 (GLOBE NEWSWIRE) -- The project is set to become one of the Philippines' first offshore wind projects with a potential installed capacity of up to 1 GW, and this milestone underscores the two companies' commitment to unlocking the country's untapped offshore wind resource to accelerate the country's energy transition. Copenhagen Infrastructure Partners and its Growth Markets Fund II has sought a local partner with deep expertise in stakeholder management to advance the project. ACEN, with its strong credentials in renewable energy, brings the necessary experience to complement CIP's technological expertise. The collaboration between the two companies is poised to establish a benchmark for offshore wind in the region and unlock further potential for large-scale clean energy projects. Positioned as among the most advanced offshore wind initiatives in the country, the project, located near the coast of San Miguel Bay in Camarines Sur, leverages strategic site conditions, including abundant wind resources, shallow water depths to mitigate offshore wind challenges, and close proximity to the shore and the nearest substation. Its in-bay location also presents a lower typhoon risk, further ensuring stability in operations. The project is currently in its pre-development stage in anticipation of the Department of Energy's 5th round of the Green Energy Auction (GEA-5) and will be subject to relevant regulatory approvals. It will play a crucial role in strengthening the Luzon grid and meeting the Philippines' rising energy demand with sustainable power. Robert Helms, Partner at CIP's Growth Markets Fund II, said: 'We are delighted to enter into this landmark partnership with ACEN, one of the most experienced renewable energy developers in the Philippines. Together with CIP's offshore wind expertise, we believe that ACEN's experience and domestic and international track record in project execution and stakeholder management will set a strong foundation for the successful development of the Camarines Sur offshore wind project. This includes anticipated participation in the upcoming first offshore wind auction. We are also working towards the ambition of making our project one of the first operational offshore wind projects in the Philippines in line with the targets set by the current Philippine administration.' Eric Francia, President and CEO of ACEN, said: 'Offshore wind is poised to play a vital role in diversifying the country's energy mix. ACEN is pleased to partner with CIP, a global leader in the offshore wind sector. We look forward to collaborating on this trailblazing initiative.' About Copenhagen Infrastructure Partners Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world's largest dedicated fund manager within greenfield energy investments. The funds managed by CIP focus on investments in offshore and onshore wind, storage, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, advanced bioenergy, and Power-to-X. CIP manages 13 funds and has to date raised approximately EUR 32 billion for investments in energy and associated infrastructure from approximately 180 international institutional investors. CIP has projects in more than 30 countries and more than 2500 employees across platforms. For more information, visit About ACEN ACEN (PSE:ACEN), the Ayala group's listed energy platform, is one of the fastest-growing renewable energy platforms in Asia Pacific, with the Philippines as its core and largest market. It also has a significant presence in Australia, Vietnam, India, and Lao PDR, along with strategic investments in Indonesia and other markets. The company currently has ~7 GW of attributable renewable energy capacity spanning operational, under-construction, and committed projects. As a developer, builder, and operator, ACEN leverages its agility and collaborative approach to accelerate the energy transition. Committed to unlocking access to clean, reliable, and affordable renewable energy, the company is on track to achieve 100% renewable energy generation by 2025 and reach Net Zero greenhouse gas emissions by 2050—turning bold ambitions into real impact for businesses, communities, and indigenous groups. For further information, please contact: E-mail: media@
