ACWA Power Invests $200 Million In Solar And Storage Project In Philippines’ New Clark City

Saudi Arabian energy company ACWA Power has announced a $200 million investment in a large-scale solar project in the Philippines, marking a significant step in the country’s renewable energy development. The agreement was finalized at the World Economic Forum in Davos, Switzerland, and involves a partnership with the Philippines’ Bases Conversion and Development Authority (BCDA) to build a clean energy facility in New Clark City, a developing smart city located north of Manila.

The project will span around 500 hectares within the New Clark City Special Economic Zone and will use advanced solar photovoltaic (PV) technology to generate electricity. A key component of the facility will be a battery energy storage system (BESS), which will help maintain a stable and reliable power supply even when sunlight is not available. The inclusion of storage is expected to improve grid management and allow for a more consistent integration of renewable energy into the local electricity network.

BCDA President and CEO Joshua Bingcang highlighted that the project is more than just an infrastructure investment. It is aimed at achieving long-term energy independence for the region by providing affordable and reliable electricity. Bingcang noted that the initiative will strengthen New Clark City’s competitiveness as a hub for industries and businesses that prioritize sustainability. He emphasized that the collaboration demonstrates how environmental responsibility can drive economic growth in Central Luzon.

For ACWA Power, this project represents an expansion of its presence in Southeast Asia. The Riyadh-based company, which manages over $114 billion in global assets, is already a leader in power generation and water desalination. The Philippine solar project follows an initial memorandum of understanding signed in late 2025, showing rapid progress in the partnership between the two organizations.

The initiative aligns with the national priorities set by President Ferdinand Marcos Jr., focusing on accelerating the country’s transition to green energy and attracting foreign investments to enhance climate resilience. Beyond its environmental advantages, the project is expected to generate jobs during both construction and operational phases, offering a significant boost to the local economy.

The next steps for the project involve detailed technical studies and site validation to ensure optimal performance. With energy demand rising in the Philippines, the $200 million solar and storage facility is expected to play a key role in the country’s move toward a cleaner and more secure energy future. By fostering international cooperation in renewable energy, the Philippines aims to establish itself as a regional leader in green innovation and sustainable industrial development.

This project demonstrates a growing commitment to renewable energy and positions New Clark City as a model for integrating clean technology into urban planning, while supporting the country’s broader economic and environmental goals.