THREE offshore wind power projects in the Philippines were given the green light by the Board of Investments (BOI).

According to the BOI they gave the go-signal for a green lane certification to Copenhagen Infrastructure New Market Fund Philippines Corporation or CI NMF (PH) Corp. 

The said offshore wind power projects will be located near North Samar, Pangasinan and La Union, and Camarines Sur and Camarines Norte.

In a statement, the BOI said that CI NMF (PH) Corp. was awarded the three Wind Energy Service Contracts in March 2023. 

The said offshore wind projects will have a combined capacity of up to 2,000 megawatts (MW) of power, and cost P329 billion.

It added that CI NMF (PH) Corp. is the first fully foreign-owned company to be awarded renewable energy service contracts in the Philippines. 

CINMF (PH) Corp. is an affiliate of Danish fund manager Copenhagen Infrastructure Partners (CIP), the world’s largest fund manager dedicated to renewable energy investments, and a global leader in offshore wind.