ACWA Power Philippines has signed a land lease agreement with the Bases Conversion and Development Authority (BCDA) to develop a large-scale 500-megawatt clean energy project in New Clark City, Philippines. The agreement secures a 500-hectare site within the fast-growing smart city development, which is being promoted as a major investment destination for businesses and industries.
The project is considered one of the significant investment initiatives supporting the Philippine government’s efforts to strengthen energy security and promote sustainable economic growth. Backed by the administration of President Ferdinand R. Marcos Jr., the development is expected to play an important role in the country’s renewable energy transition.
The planned facility will combine utility-scale solar photovoltaic technology with a battery energy storage system. This integrated setup will enable the project to generate solar power during the day and store excess energy for use when sunlight is unavailable. As a result, the facility will be capable of delivering reliable electricity around the clock.
Initial investment in the project is estimated at a minimum of USD 400,000 per megawatt. The facility is expected to achieve a total capacity of up to 500 megawatts once fully developed, subject to regulatory approvals and final project design requirements.
The clean energy project is intended to serve as the primary power source for the New Clark City special economic zone. Electricity generated from the facility will support energy-intensive industries that are expected to establish operations in the area. These sectors include data centers, advanced manufacturing facilities, semiconductor production units, and artificial intelligence-related businesses.
Philippine Finance Secretary Frederick D. Go emphasized that a stable and reliable power supply is essential for attracting investments and creating long-term employment opportunities for Filipino workers. The project is therefore expected to contribute not only to energy security but also to economic development.
The initiative also supports the Philippines’ target of increasing renewable energy’s share in the national power mix to 35 percent by 2030. For ACWA Power, a globally recognized company known for its expertise in water desalination, renewable energy, and green hydrogen projects, this agreement represents its first land deal with a Philippine government agency.
Company officials stated that the large project site provides an opportunity to build a fully integrated energy system at scale. ACWA Power has also pledged to support local communities surrounding the project area. Leaders from both ACWA Power and BCDA expressed confidence that the partnership will strengthen investor confidence, reduce energy costs, and accelerate the development of sustainable infrastructure in the Philippines.
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