Saudi Arabia-based ACWA Power has signed a lease agreement with the Bases Conversion and Development Authority (BCDA) for a 500-hectare site in New Clark City, paving the way for a utility-scale solar and battery storage project that could attract up to USD200 million in investments and supply clean power to emerging industries in Central Luzon.
The project will serve as the anchor energy facility of the New Clark City special economic zone, combining solar photovoltaic generation with battery energy storage systems. Once fully developed, the facility is expected to deliver up to 500 megawatts of capacity, subject to final engineering designs and regulatory approvals.
Special Assistant to the President for Investment and Economic Affairs Frederick D. Go said the investment signals growing confidence in the Philippines’ economic reforms and investment climate, adding that the project is expected to generate jobs, attract additional investors, and support regional economic growth.
ACWA Power chief executive officer Samir J. Serhan described New Clark City as a future-ready development capable of supporting large-scale clean energy investments, while ACWA Power Philippines country general manager Salman M. Baray said the site provides enough scale to build an integrated renewable energy platform and support nearby communities.
BCDA president and CEO Joshua M. Bingcang said the project will strengthen New Clark City’s appeal to data centers, artificial intelligence firms, advanced manufacturers, and other power-intensive industries seeking reliable and sustainable energy sources.
The agreement marks ACWA Power’s first land deal with a Philippine government agency and represents a significant step in the company’s Southeast Asian expansion. It also supports the government’s goal of raising renewable energy’s share in the power generation mix to 35 percent by 2030.
