Primelectric Holdings Inc. (PHI) has signed a joint study agreement with Saudi Arabia’s ACWA Power to explore renewable energy (RE) and storage opportunities in the Visayas and Palawan. The collaboration aims to assess the most viable clean energy solutions for Negros, Panay, and Palawan, with a focus on reducing power costs and improving supply reliability.
Under the partnership, PHI will provide technical data and project insights, while ACWA Power, an international leader in power and desalination, will lead the development, financing, and operation of identified viable projects. According to PHI president Roel Castro, the initiative addresses growing demand for stable and affordable electricity in underserved island grids, leveraging each firm’s respective strengths in market insight and global project execution.
The partnership holds commercial and corporate significance as it positions both firms to jointly invest in large-scale renewable projects, drive technology transfer, and support sustainable development. Consumers in the target regions stand to benefit from cleaner, more reliable, and cost-effective electricity solutions.
This marks ACWA Power’s second Philippine RE collaboration in recent weeks, following a similar partnership with Meralco PowerGen Corp. The alliance reflects growing international interest in the Philippines’ renewable energy market and underscores the strategic role of public-private cooperation in the country’s energy transition.
