en.Wedoany.com Reported - ACWA Power Philippines (a subsidiary of ACWA Power) has signed a lease with the Bases Conversion and Development Authority to develop a 500 MW solar photovoltaic and battery energy storage system project on a 500-hectare site in New Clark City.

The project has a minimum estimated investment of $400,000 per megawatt and is subject to approvals and phased expansion. It supports the government's infrastructure and clean energy agenda under President Ferdinand R. Marcos Jr.

Finance Secretary Frederick D. Go stated that the investment will support the 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 noted that the project will be fully integrated and includes community investments around the site. The solar facility will provide clean energy to industrial tenants within New Clark City, including data centers and manufacturing operations.

The project supports the Philippines' goal of increasing the share of renewable energy in the power mix to 35% by 2030 and strengthens New Clark City's position as a green industrial hub.

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