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Copenhagen Offshore Partners | Rune Damgaard and Jesper Krarup Holst Appointed Co-CEOs of COP Philippines, Lead 2 GW Offshore Wind Development Portfolio

PUBLISHED January 15, 2024

Rune Damgaard and Jesper Krarup Holst Appointed Co-CEOs of COP Philippines, Lead 2 GW Offshore Wind Development Portfolio

January 15, 2024 – Copenhagen, Denmark / Manila, Philippines:

Copenhagen Offshore Partners (COP), a global leader in offshore wind development and construction, has announced Rune Damgaard and Jesper Krarup Holst will serve as Co-CEOs of the group’s operations in the Philippines, including development of three offshore wind sites totalling 2 GW of capacity which are owned by a Copenhagen Infrastructure Partners (CIP) managed fund.

Damgaard transitions into the role after serving as Deputy CEO and Procurement Director at COP for the group’s 500 MW Feng Miao 1 project in Taiwan. Holst, a Partner at COP, brings unrivalled global offshore wind experience including leadership of projects through the development phase and into construction in countries including Taiwan and South Korea. Holst will continue his regional leadership position at COP covering Asian markets including Taiwan, South Korea and now also the Philippines.

“I am excited to serve as co-CEO and lead development for our growing offshore wind portfolio in the Philippines, which COP is advancing on behalf of Copenhagen Infrastructure Partners,” said Damgaard. “The Philippines government has demonstrated excellent ambition to unleash offshore wind as part of their renewable energy mix in the future, and together, our COP and CIP teams are committed and ready to partner with the domestic supply chain, foster relationships with local stakeholders, and contribute to the growth of a sustainable offshore wind market.”

“Similar to COP’s approach to offshore wind development in other new markets, we are excited about bringing our global expertise and track record to the Philippines market,” said Holst. “As we grow our local team and work together with stakeholders in the local community, we look forward to supporting the energy transition in the country and delivering low cost and affordable renewable energy whilst creating local employment opportunities.”

To support the development of the group’s Philippines portfolio, COP is opening a new office in Manila with CIP, the world’s largest dedicated fund manager within greenfield renewable energy investments. COP is the exclusive offshore wind development partner to CIP.

The 2 GW portfolio COP is leading development for in the Philippines is expected to create around 4,500 jobs during the development and operations period, as well as generate enough electricity to power approximately one million households, which would offset 2.9 million tonnes in CO2 emissions per year for the duration of their 25-year contracts.

CIP and COP are targeting delivery of Philippines projects by 2028 and are committed to developing them in partnership with the Philippines government and local stakeholders to support the nation’s climate, renewable energy, and economic development goals.

 

About Copenhagen Offshore Partners

Copenhagen Offshore Partners (COP) is a world leader in offshore wind project origination, development, and construction. COP is accelerating the energy transition through development of a 50+ GW project portfolio. An industry pioneer, the group is leading project development in new markets, including four projects currently under construction – Changfang Xidao and Zhong Neng in Taiwan, Vineyard Wind 1 in the United States and Jeonnam 1 in Korea. COP also specializes in system integration capabilities, including power-to-x. COP’s expert team are advancing projects across 17 offices in Europe, Asia Pacific, and the Americas. COP is a proudly independent company owned by its management. Learn more at www.cop.dk