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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, Shandong Hi-Speed Holdings Group was a notable mover up 9.6% and finishing the session at HK$11.64. In the meantime, A. O. Smith 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.

Best Energy Transition Stocks

• First Solar closed at $156.45 up 0.5%.

• Chevron 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.

• Tesla finished trading at $356.90 down 1.7%.

Summing It All Up

• 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.