ACWA Power seals reservation deal for renewable energy projects in Philippines

25/01/2026 Argaam
ACWA Power Co.headquarters

ACWA Power Co. headquarters

ACWA Power Co. signed a land reservation agreement with the Philippines’ Bases Conversion and Development Authority (BCDA) to reserve dedicated areas for a large-scale renewable energy development in New Clark City.

 

The agreement came on the sidelines of the World Economic Forum 2026 in Davos.

 

Under the deal, ACWA Power and BCDA will collaborate on the development of a major solar project, with the potential for an advanced battery energy storage system (BESS). The project will be located within the New Clark City Special Economic Zone, a flagship smart and green city situated north of Manila, according to a company statement today, Jan. 25.

 

Following an initial MoU signed in Riyadh in November 2025, both parties worked to identify and shortlist potential strategic sites within New Clark City suitable 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 studies, it added.

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