Acwa Power, a leader in the energy transition, has announced the signing of a reservation agreement with the Bases Conversion and Development Authority (BCDA) of the Philippines to advance large-scale renewable energy development in New Clark City, during the World Economic Forum 2026 in Davos.
Under the reservation
agreement, Acwa Power and BCDA will collaborate on the development of a major
solar project, with potential battery energy storage system (BESS) integration,
in the New Clark City Special Economic Zone, a smart and green metropolis north
of Manila.
The partnership is
intended to enhance the attractiveness of New Clark City as a destination of
choice for energy-intensive and sustainability-driven industries seeking access
to clean, reliable and affordable power.
This partnership
leverages Acwa Power’s global renewables portfolio of 52 GW, equivalent to 56
per cent of its total power capacity, and an anticipated 5.6 GWh of installed
BESS capacity.
Marco Arcelli, CEO of Acwa
Power, stated: "This reservation agreement with BCDA is an important step
in expanding Acwa Power's presence in the Philippines and supporting the
country's energy transition. By combining our global expertise in utility-scale
renewable energy and storage solutions with New Clark City's vision as a
world-class, climate-resilient economic hub, we aim to deliver a robust
platform for green industrial growth. This collaboration reflects our
commitment to long-term partnerships that unlock sustainable investment, create
high-quality jobs and contribute to a low-carbon future for the Philippines in
line with our target to triple our global assets under management to USD 250
billion by 2030."
Following an initial
MoU signed in Riyadh on 27 November 2025, Acwa Power and BCDA have worked
together to identify and shortlist potential sites within New Clark City for
renewable energy development.
A project site of
approximately 500 hectares has been selected within the New Clark City Special
Economic Zone for pre-feasibility study, with the parties intending to explore
a configuration that combines utility-scale solar generation with BESS to enable
extended dispatch of renewable energy and improved grid flexibility.
The proposed project is expected to support New Clark City's vision as a model for climate-resilient, sustainable urban development, while reinforcing the Philippines' broader strategy to scale up renewable energy and attract long-term, green investment.-TradeArabia News Service
