Being developed through a joint venture with Ayala-led ACEN Corp., the project is positioned to become the first offshore wind farm in both the Philippines and Southeast Asia upon completion. During the meeting, discussions centered on financing arrangements and preparations linked to the upcoming Green Energy Auction. CIP also outlined plans to seek financing support from government financial institutions as part of the project’s funding strategy.

Offshore Wind Development Aligned With Energy Goals

Go emphasized that government backing for offshore wind initiatives is consistent with the country’s clean energy agenda. He noted that the development of an offshore wind farm plays a significant role in enhancing long-term energy security while helping advance sustainability objectives.

“Today, global companies are actively seeking renewable energy to power their operations and meet sustainability commitments to their own customers – and the Philippines needs to be ready to meet that demand,” Go said.

“The San Miguel Bay Offshore Wind Power Project will help provide cleaner and more reliable energy, create quality jobs, spur local economic growth and support a more resilient and sustainable future,” he added.

The San Miguel Bay Offshore Wind Power Project is also expected to support the renewable energy targets outlined in the Philippine Energy Plan 2023-2050. In addition to supplying clean power, the offshore wind farm is projected to generate employment opportunities during both the construction and operational phases, while encouraging economic activity across Camarines Sur and neighboring provinces.

CIP Highlights Long-Term Renewable Energy Commitment

CIP is recognized as a leading fund manager focused on greenfield renewable energy investments and currently holds a pipeline of offshore and onshore wind projects valued at around $5.5 billion. The company manages 15 funds supported by more than 200 institutional investors and has raised approximately $43 billion to date.

According to the government, CIP’s continued investment in the Philippines reflects increasing investor confidence in the country as well as in the growth prospects of its renewable energy sector.

Strengthening Energy Infrastructure and Regional Stability

The USD 1.4 billion wind power project is designed to mitigate electricity shortages in southern regions while supporting the country’s strategic objective of achieving carbon neutrality. The facility will feature an installed capacity of 1 GW, complemented by a 300-megawatt energy storage system with a capacity of 600 megawatt-hours. This integrated battery solution is intended to enhance grid stability by managing fluctuations in wind generation and addressing periods of high demand. Furthermore, the Masdar wind project involves the development of over 400 kilometers of transmission lines to reinforce the national electricity network. Once the facility reaches full operational status, which is scheduled for the third quarter of 2029, it is projected to decrease carbon dioxide emissions by approximately 2.5 million tons every year.

Kazakhstan’s Vice Minister of Energy Sungat Yessimkhanov said, “Partnership with Masdar contributes to the development of renewable energy and supports Kazakhstan’s progress toward carbon neutrality. This project will strengthen the region’s energy security and attract modern technologies to the renewable energy sector.”

Masdar Bringing Expertise and Capital in Kazakhstan

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “Masdar today is one of the world’s largest clean energy companies, with more than 65 gigawatts of installed capacity and a clear path toward our target of 100 gigawatts by 2030. We are bringing that global scale, expertise and long-term capital to Kazakhstan through an investment of approximately $1.4 billion.”

Collaborative Framework and Future Technological Integration

The consortium managing the USD 1.4 billion wind power project includes Masdar and W Solar, each holding a 40% stake, alongside Qazaq Green Power, a subsidiary of Samruk-Kazyna, with 18%, and the Kazakhstan Investment Development Fund holding 2%.

In addition to the USD 1.4 billion wind power project, Masdar has entered into a roadmap agreement with the Ministry of Digital Development, Innovation and Aerospace Industry. This agreement explores providing round-the-clock clean energy for data centers and artificial intelligence infrastructure, drawing on the company’s previous experience in the UAE.

The Masdar wind project is expected to generate local employment opportunities and strengthen domestic supply chains while fostering economic growth. As the region moves toward more sustainable power solutions, this initiative serves as a model for reliable and dispatchable power. By combining large-scale generation with advanced storage, the project aims to provide a stable electricity supply that supports both energy security Kazakhstan and the broader modernization of the national power system.

The pre-qualification process for the offshore wind farm project was conducted by the Canada-Nova Scotia Offshore Energy Regulator (CNSOER), an independent joint agency established by the government of Canada and Nova Scotia. As part of the review, the regulator assessed applicants against a range of requirements covering financial strength as well as technical, legal and social considerations.

Commenting on the milestone, Nova Scotia Premier Tim Houston said, “By attracting companies with the experience and know-how to deliver large energy projects, we are setting the stage for a successful offshore wind industry here at home.”

Among the five firms and groups that secured pre-qualified status were several internationally recognized developers. These included DEME from Belgium, Jan De Nul based in Luxembourg, and Ming Yang from China. Two consortiums were also approved to move forward, including a group involving Hanwha Ocean and Q Energy France. According to the regulator, participants were permitted to keep their status private at this stage if they chose not to disclose it publicly.

First Offshore Wind Sites Set for Auction

Formal bidding for the country’s first offshore wind energy sites is expected to begin in late 2026. The evaluation of submissions will take place at both the federal and provincial levels before successful license holders are selected and announced.

The initial lease areas that will be offered were identified in July 2025. Four zones were designated in total, with three located east of Nova Scotia and one situated to the north. Middle Bank, Sable Island Bank, and Sydney Bight are each positioned at least 25 kilometers (15 miles) offshore and are located in waters suitable for fixed-bottom turbine installations. The fourth site, French Bank, lies approximately 20 kilometers (12.5 miles) from shore and features significantly deeper waters, potentially requiring floating turbine technology. Additional locations remain under review by the province for future development opportunities.

Long-Term Capacity Goals Support Export Ambitions

Government plans call for an initial bidding round covering 2.5 GW of capacity, with further licensing rounds expected to follow. The stated objective is to license 5 GW by 2030, marking an important step in the broader expansion of offshore wind energy in the region.

Nova Scotia Premier Tim Houston has outlined an ambitious long-term vision for the sector, positioning the province as a future energy exporter. Although Nova Scotia currently records peak electrical demand of approximately 2.4 GW of power, Houston has projected that generation capacity from the industry could reach between 40 and 50 GW by 2050. Such growth would support the province’s aspiration to supply energy beyond its own borders.

Massachusetts has been identified as one potential destination for future Canadian wind-generated electricity. The state is seeking additional renewable energy sources following the Trump administration’s decision to stall efforts across New England aimed at expanding offshore energy capacity.

The first wind turbine factory initiative is designed to support Egypt’s broader efforts to localise renewable energy technologies, increase clean energy generation capacity and strengthen domestic manufacturing capabilities. It forms part of the country’s strategy to boost local industry participation in renewable energy projects while increasing the domestic component used in such developments. The agreement also supports the localisation of advanced solar and wind energy technologies, expansion of electrical equipment manufacturing and implementation of renewable energy projects in Egyptian pounds.

In addition, the project is expected to benefit from Egypt’s trade agreements, enabling locally manufactured products to reach export markets throughout Africa and the Middle East.

Partnership Between SANY Renewable Energy, EETC and NREA

The MoU was signed between China’s SANY Renewable Energy, a global leader in wind turbine manufacturing technology, and Egypt’s Egyptian Electricity Transmission Company (EETC) and New and Renewable Energy Authority (NREA). Signatories included Li Qiang, Chairperson of SANY Renewable Energy, Mona Rizk, Chairperson of the EETC, and Ehab Ismail, Chief Executive Officer of the NREA.

Under the agreement, Egypt will establish its first wind turbine factory to manufacture equipment and components for local wind energy developments while exporting excess production to regional markets. The agreement further covers the development of a 2 GW wind power plant that will be implemented in local currency. The project supports Egypt’s National Energy Strategy, which aims to raise the share of renewable energy in the national energy mix to 45% within the next two years.

Government Highlights Renewable Energy and Energy Security Goals

Speaking on the sidelines of the signing ceremony, Madbouly emphasised the role of renewable energy projects in reinforcing Egypt’s electricity sector and broadening the country’s energy sources. He said that localising industries connected to renewable energy remains a central element of improving energy security and supporting Egypt’s green transition agenda.

Madbouly also pointed to the government’s continued efforts to strengthen cooperation among state institutions and expand partnerships with local and international private-sector investors. These partnerships are intended to accelerate renewable energy projects, including solar, wind and energy storage systems, using local currency. He further noted that Egypt is increasing its focus on energy storage solutions to maximise renewable energy output while maintaining the stability and reliability of the national electricity grid.

Project Timelines and Manufacturing Capacity

Esmat stated that localising electrical equipment manufacturing, particularly renewable energy components, aligns with the state’s objective of implementing solar and wind energy projects in Egyptian pounds. He added that the ministry is pursuing measures aimed at increasing local manufacturing content across the sector.

According to Esmat, the agreement includes the construction of the first wind turbine factory with an annual production capacity of 2 GW. The facility is expected to be completed within a maximum of two years after the signing of the final agreements. The wider project also includes a 2,000 MW wind farm, which is anticipated to be connected to Egypt’s national electricity grid within 23 months of project execution.

The minister further noted that Egypt’s growing market for solar and wind energy projects, combined with strong trade links across the Middle East and Africa, enhances the country’s position as a regional centre for renewable energy manufacturing and exports.

Pattern Energy Group (Pattern Energy), a leader in clean energy and transmission infrastructure, has announced that the SunZia project, recognized as the largest renewable energy infrastructure project in U.S. history, has reached full operational status. The SunZia project is now capable of generating and delivering more electricity than the Hoover Dam while providing affordable and reliable energy to customers throughout the western United States.

Commenting on the milestone, Hunter Armistead, CEO of Pattern Energy, said, “SunZia proves that we can still build the consequential infrastructure this country needs.”

“We did this the right way, we did it on time and on budget – in genuine partnership with the local communities and landowners who trusted us, with the environmental stewardship this unique landscape deserves, and with the determination to see something through that many thought was too big and too complex to finish,” he added.

Adressing Rising Power Needs

The SunZia project consists of an approximately 3,650-megawatt (MW) wind project and a 550-mile high-voltage direct current (HVDC) transmission line. Together, these assets are generating and delivering affordable, American-made energy from New Mexico into Arizona and onward to customers connected to the western grid. Operating at full capacity, the facility can supply enough electricity to serve approximately one million American homes each year. The SunZia project is designed to address growing energy demand through new interregional transmission infrastructure capable of moving reliable and affordable power across long distances. In doing so, it tackles a key challenge facing the energy sector by combining large-scale energy generation with the transmission systems required to deliver that energy where it is needed.

Advanced Transmission Technology at Project Core

A central component of the SunZia project is its HVDC transmission network, which is engineered to transport significant volumes of electricity efficiently over extended distances. Converter stations located at each end of the transmission line convert electricity for transmission and then convert it back for use on the grid. Through this system, SunZia is deploying one of the first major HVDC systems constructed in the United States in a generation, creating advanced infrastructure intended to support large-scale power delivery.

Highlighting the broader significance of the development, Elliot Mainzer, President and CEO of the California Independent System Operator (ISO), said, “Projects of this scale help deliver energy reliably to areas of rising demand, improve the movement of power across states and support a more resilient, flexible and affordable electric system. SunZia represents the kind of long-term infrastructure investment needed to serve customers today and prepare the grid for the future.”

Economic Benefits and Community Investment

Construction activities on the SunZia project commenced in September 2023. At peak construction, the development supported more than 2,000 quality jobs. In addition, more than 100 permanent operations positions will be created across New Mexico and Arizona. The project is expected to invest over $20 billion in communities within those states, including $1.3 billion in direct payments to local governments, schools, counties and private landowners during the first 30 years of operation.

According to Pattern Energy, the fully contracted project progressed through extensive development, permitting, financing, construction and community engagement processes, requiring coordination among private companies, local governments, state and federal agencies, landowners and energy customers.

Building on the Success of Previous Projects

The new agreement builds directly on the achievements of the preceding project, which demonstrated substantial progress in large-scale renewable energy deployment. AMEA Power’s successful commissioning of the 500MW Wind Power Plant at Ras Ghareb, Egypt, in June 2025, established a blueprint for utility-scale development. Operating as Africa’s largest wind farm, the Ras Ghareb facility showcased AMEA Power’s capabilities in managing complex renewable energy projects while reinforcing confidence among investors regarding the bankability and scalability of such endeavors.

Combined Capacity and National Impact of Amunet II

The Amunet II project represents the second major utility-scale wind initiative for AMEA Power in Egypt. Upon completion, AMEA Power’s combined wind power capacity in Egypt will reach 1GW, a substantial contribution to Egypt’s renewable energy portfolio. This expansion directly supports the country’s strategic objectives for diversifying its energy mix and accelerating the transition toward cleaner power sources.

Strategic Partnership of Envision Energy and AMEA Power

“From Amunet I to Amunet II, our partnership with AMEA Power has evolved into a strategic collaboration built on trust, innovation and long-term value creation,” said Kane Xu, Senior Vice President of Envision Energy.

“The project demonstrates the scalability of our partnership model and the value of global collaboration in advancing the energy transition. Today, Egypt is increasingly playing a key role in the global energy transition. Envision will continue to leverage our leading technologies and global execution capabilities to deliver reliable and efficient clean energy solutions across Egypt and the wider MENA region, supporting a more sustainable energy future,” he further added.

“The successful delivery of our 500MW wind project in Ras Ghareb, Egypt, demonstrated what can be achieved when strong partners share a common vision and commitment to execution. The Amunet II project marks the next phase of our collaboration with Envision Energy and reflects our continued confidence in Egypt’s renewable energy sector. Together, these projects will bring our wind portfolio in Egypt to 1GW, supporting the country’s energy transition while creating lasting economic and social value,” said Hussain Al Nowais, Chairman of AMEA Power.

The agreement includes plans to examine cooperation across offshore wind supply chains, transportation of wind turbine components, development of pre-assembly hubs and support services for offshore energy projects in Europe and other international markets. The initiative represents a further step in AD Ports Group’s strategy to strengthen its presence in the growing offshore wind energy sector and wider renewable infrastructure market.

The framework agreement also outlines the exploration of fabrication, assembly and logistics solutions linked to offshore energy infrastructure. In addition, the companies will assess opportunities to work together on selected offshore wind tenders. The partnership builds on AD Ports Group’s broader efforts to expand its activities in offshore and renewable energy. Over recent months, the Abu Dhabi-listed company has announced a series of offshore and renewable energy initiatives involving companies such as Masdar, Siemens Energy and Green Parrot. The group has also expanded its maritime capabilities through the acquisition of Spanish shipyard Balenciaga Astilleros, a specialist in vessels designed to serve the offshore wind energy industry.

Commenting on the agreement, Friedrich Portner, chief commercial officer of the maritime and shipping cluster at AD Ports Group, said, “We are pleased to partner with Dajin Heavy Industry to jointly work on opportunities that leverage our maritime and logistics capabilities in support of the offshore wind sector, a strategic growth area for us.”

“Together, we aim to deliver more integrated, efficient solutions across the renewable energy value chain,” he added.

Walid Oulmane, chief commercial officer for new products at Dajin Heavy Industry, said the partnership would bring together industrial, maritime and logistics capabilities to pursue opportunities associated with the global energy transition.

According to forecasts cited by AD Ports, the offshore wind energy sector is expected to grow from approximately $109bn in 2026 to more than $307bn by 2035, driven by ongoing commitments from governments and developers to large-scale renewable energy projects.

The offshore wind tenders are poised to considerably enhance France’s offshore wind capacity, which is targeted to grow from its current level of under 2GW to 15GW by the year 2035. The development aligns with broader European efforts to bolster renewable energy generation, as the continent’s total offshore wind capacity was just under 40GW projected for 2025.

The initial call for the offshore wind tenders, launched in 2024, will be divided equally between two key offshore wind technologies, 5GW for fixed-bottom wind farms and 5GW for floating wind farms. Fixed-bottom wind farms utilize turbines directly attached to foundations anchored to the seabed, representing a more established and generally more cost-effective technology. In contrast, floating wind farms position turbines on platforms that are moored to the seabed. This latter approach enables projects to be deployed in deeper waters, although it introduces additional costs due to the complexity of the platforms, mooring systems, and installation processes.

Companies interested in participating in the development of these crucial offshore wind projects will have a four-month period to submit their bids. The selection of the winning bids is anticipated in February 2027.

The offshore wind tenders will operate under a contracts-for-differences system, which guarantees a set price for the electricity produced. Under this arrangement, the state bridges the gap when market prices fall below the guaranteed level, while operators contribute when prices exceed it. The ministry highlighted that this mechanism is intended to encourage maintenance work on turbines during periods of low electricity prices, thereby mitigating risks associated with potential negative pricing resulting from an oversupply of renewable energy.

Furthermore, the offshore wind projects will be subject to stringent environmental regulations. The ministry has indicated that components manufactured outside of Europe will also need to adhere to these strict environmental rules, underscoring a commitment to sustainable development within the renewable energy sector.

This initiative signifies a joint effort in both the investment and asset management of targeted renewable energy projects. Brookfield’s involvement will be primarily through its Catalytic Transition Fund, a dedicated vehicle designed to foster and facilitate the shift towards net-zero emissions, particularly in emerging markets and developing economies across Southeast Asia.

Speaking on the renewable energy alliance, Daniel Cheng, head of Energy at Brookfield Asia Pacific, said, “Brookfield’s partnership with Foxconn underscores the scale of corporate demand for renewable power in Vietnam, one of Asia’s fastest-growing economies. As global manufacturers increasingly turn to renewables for its cost-competitiveness, speed to market and energy security benefits, we’re seeing strong and rising demand for long-term supply from across the region.”

James Tu, chief investment officer of Foxconn, said, “We are pleased to be a strategic partner to Brookfield to secure long-term access to renewable energy for our operations and supply chain in Vietnam. This initiative, where we’re investing and managing alongside Brookfield, ensures stable and cost-effective power supply for our continued growth in the region.”

The advancement of this renewable energy alliance is expected to align with Vietnam’s evolving direct power purchase agreement (PPA) framework. In parallel, a Foxconn subsidiary based in Vietnam has recently increased its charter capital by nearly $40 million, spread across two separate adjustments.

Brookfield Asset Management, a global investment powerhouse with over $1 trillion in assets under management, is making its initial renewable energy investments in Vietnam, Thailand, and the Philippines through this initiative. This effort is instrumental in building a substantial decarbonisation platform across Southeast Asia.

The meeting, attended by a GWEC delegation led by CEO Ben Backwell, underscored Vietnam’s commitment to expanding its renewable energy portfolio. The industry body, which represents a substantial portion of the global installed wind power capacity, engaged in discussions regarding investment and development opportunities within the Vietnamese market.

Tuc emphasized that Vietnam is accelerating its energy transition, with a particular focus on expanding renewable and new energy sources to fortify national energy security. The country has already achieved a notable milestone, with over 10,000 megawatts (MW) of wind and solar power capacity installed, contributing more than 10% to its total electricity generation. Offshore wind has been identified as a particularly promising segment poised to play an increasingly vital role in the future energy mix.

To foster this growth, the government is actively refining its legal and regulatory framework for the period of 2026-2030. Key areas of focus include marine surveys, investment procedures, and the implementation mechanisms for offshore wind projects.

Tuc welcomed GWEC’s expertise in sharing international best practices, offering policy recommendations, and facilitating connections between global investors and manufacturers with Vietnam’s burgeoning market. He expressed a strong desire for international partners to support the development of local supply chains, facilitate technology transfer, enhance workforce training, and invest in the necessary infrastructure for the offshore wind industry.

Representatives from several prominent international energy companies participating in the discussions indicated a strong interest in investing in Vietnam’s offshore wind sector. They stressed the importance of a stable and transparent regulatory framework that addresses the entire project lifecycle, from initial site surveys and feasibility studies through to construction and ongoing operations. Investors also called for finalized mechanisms for selecting project developers, emphasizing criteria such as financial strength, technical expertise, and the potential to generate wider economic benefits.

Further recommendations included the adoption of internationally recognized and bankable power purchase agreements (PPAs), the expansion of grid capacity to accommodate new generation, and the upgrading of port facilities. Ensuring that supporting infrastructure is developed in tandem with offshore wind projects was also highlighted as crucial. Several companies noted Vietnam’s significant potential for developing a domestic offshore wind supply chain and signaled their readiness to establish manufacturing facilities, transfer advanced technology, and provide comprehensive workforce training programs within the country.

Officials from various government ministries, including Industry and Trade, Finance, Construction, and Agriculture and Environment, provided clarification on crucial aspects such as electricity pricing, marine area allocation, financing policies, and strategic plans for developing offshore wind as a key national industry. In concluding the session, Deputy Prime Minister Tuc projected a substantial increase in Vietnam’s electricity demand in the coming years, directly linked to the nation’s ambitious economic growth targets.

He indicated that renewable energy, alongside gas-fired power generation and nuclear energy, is expected to form the foundation of Vietnam’s future power system. Current government plans aim to commission between 6,000 MW and 17,000 MW of offshore wind capacity by 2030. This target is subject to acceleration should financially robust and technologically capable international investors commit to the sector. Projections suggest that by 2050, offshore wind could constitute between 14.7% and 16.6% of Vietnam’s total power generation capacity.

To facilitate this investment influx, the government is actively revising sector-specific regulations. A significant measure is Resolution 253/2025 from the National Assembly, which empowers authorities to approve both investment policies and select investors simultaneously for offshore wind projects. This strategic adjustment is anticipated to significantly shorten project preparation timelines and expedite the selection of qualified developers. The government reaffirmed its commitment to reducing administrative burdens, lowering compliance costs, and investing in critical supporting infrastructure, including deep-water ports, robust transmission networks, and efficient transport links.

“The government remains committed to listening to and engaging openly with the international business community, and views the success of investors as Vietnam’s success,” Tuc said.