• Partnership to explore utility-scale solar and battery energy storage in New Clark City Special Economic Zone, Philippines
• Project aims to provide clean, reliable and affordable power to energy-intensive, sustainability-driven industries locating in New Clark City
• Reservation Agreement for approximately 500 hectares of land, marks a key step towards long-term lease and large-scale renewable energy deployment
Riyadh, Kingdom of Saudi Arabia; 25 January 2026: ACWA Power, the world’s largest private water desalination company, a leader in the energy transition and a first mover into green hydrogen, has announced the signing of a reservation agreement with the Bases Conversion and Development Authority (BCDA) of the Republic 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 flagship 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% 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. The collaboration also underscores the pivotal role of public–private partnerships in accelerating the deployment of clean energy infrastructure in emerging markets. By leveraging ACWA Power’s track record in delivering large-scale renewable assets and BCDA’s mandate to transform sites into dynamic economic growth centers, the parties aim to create a strong foundation for future low-carbon industrial ecosystems in New Clark City and beyond.
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