Philippines’ ACWA Power secures 500-hectare lease for solar project in New Clark City

Estimated investment is around $400,000 per MW.

ACWA Power Philippines, a subsidiary of ACWA Power, has signed a contract of lease with the Bases Conversion and Development Authority for a 500-hectare site in New Clark City.

The project supports the Philippine government’s infrastructure and clean energy agenda under President Ferdinand R. Marcos Jr..

Under the agreement, ACWA Power will develop a solar photovoltaic and battery energy storage system (PV-BESS) with a planned capacity of up to 500 MW.

The project involves an estimated minimum investment of $400,000 per megawatt, subject to approvals and phased expansion.

Finance Secretary Frederick D. Go said the investment will support development of semiconductor, advanced manufacturing, and AI-driven industries in New Clark City.

ACWA Power CEO Dr. Samir J. Serhan said the project reflects confidence in the Philippines as a destination for large-scale renewable energy infrastructure.

ACWA Power Philippines Country General Manager Salman M. Baray said the project will be fully integrated and will include community investments around the site.

The solar facility will supply clean energy to industrial tenants within New Clark City, including data centers and manufacturing operations.

The project supports the Philippines’ goal of reaching 35% renewable energy in its power mix by 2030 and strengthens New Clark City as a green industrial hub.