Acwa Power Philippines, a subsidiary of Acwa Power Company, has signed a contract of lease (COL) with the Bases Conversion and Development Authority (BCDA) for a 500-hectare site within New Clark City, marking a milestone in the Philippines' clean energy and industrial transformation agenda.

Under the lease with BCDA, Acwa Power Philippines will develop an integrated utility-scale solar photovoltaic and battery energy storage system (PV-BESS) facility.

The project represents an initial investment of at least $400,000 per megawatt (MW), with a capacity of up to 500 MW upon full build-out, subject to final design, regulatory approvals, and future expansion phases.

This project is one of the key investment commitments secured by the Philippine government under the administration of President Ferdinand Marcos, in support of the country's sustainable economic growth and energy security objectives.

Frederick Go, Finance Secretary, said: “Acwa’s investment in New Clark City lays the foundation upon which semiconductors, advanced manufacturing, and AI-driven industries can be built at utility scale. Ultimately, this makes New Clark City one of the strongest investment destinations in the region, while creating meaningful, lasting jobs for Filipinos.”

For Dr Samir Serhan, Acwa Chief Executive Officer, the partnership translates to the growing investor confidence in the Philippines as a destination for large-scale clean infrastructure.

 “New Clark City reflects the kind of integrated, future-ready development that global energy investors are looking for,” he said.
“Working alongside BCDA gives this initiative both strategic clarity and long-term momentum. We see an opportunity to help power industrial growth while lowering energy costs and supporting the country’s broader economic ambitions through reliable renewable energy,” Serhan added.

The scale of the lease within an active special economic zone was itself a deliberate design decision.

Salman Baray, Country General Manager of Acwa Philippines, said the footprint allows the company to build something genuinely integrated rather than incremental. 

"We will also invest in the host communities around the site, because a project of this breadth has to work for the people who live alongside it,” Baray said.
Joshua Bingcang, BCDA President and CEO, expressed confidence in the collaboration, noting that aligning Acwa's track record with BCDA's development mandate will allow both parties to "accelerate the country's renewable targets and attract the high-value tenants that depend on clean, dependable power."

"Anchoring Acwa inside New Clark City is a defining moment for the estate. It tells global investors that this is where the Philippines' next wave of sustainable infrastructure gets built," Engr. Bingcang added. -OGN/TradeArabia News Service