en.Wedoany.com Reported - Acwa Power Philippines has signed a lease agreement with the Bases Conversion and Development Authority (BCDA) to build a 500 MW solar photovoltaic and battery energy storage facility on a 500-hectare site in New Clark City. The project has a minimum investment of $400,000 per megawatt, with total capital expenditure reaching $200 million or more, depending on final design decisions and expansion phases.
New Clark City is positioned as a hub for industries such as artificial intelligence, advanced manufacturing, and data centers, which have a rigid demand for round-the-clock clean electricity. Before attracting high-growth tenants, BCDA secured Acwa Power as the anchor electricity supplier to ensure supporting regional infrastructure. The site is located within an economic zone, and Salman M. Baray, General Manager of Acwa Philippines, stated that this location enables the company to build a "truly integrated, not incremental" project. This lease is the first land agreement between Acwa Power and a Philippine government agency.
Under the lease, Acwa Power Philippines has secured the right to develop the 500-hectare site within the economic zone to build an integrated utility-scale solar-storage system. Development will proceed in phases, with 500 MW representing the capacity ceiling rather than an immediate output target. Construction cannot commence until regulatory approvals are obtained, and total capital expenditure will vary with the scale of expansion phases.
Once completed, the facility will directly supply power to data centers, advanced manufacturing tenants, and other energy-intensive industries within New Clark City. Philippine Finance Secretary Frederick D. Go noted that the project lays the foundation for the semiconductor, advanced manufacturing, and AI industries to be built on a utility scale, expected to make New Clark City one of the region's most attractive investment destinations and create lasting jobs. Dr. Samir J. Serhan, CEO of Acwa Power, stated that the company will support industrial growth through reliable renewable energy while reducing energy costs and supporting national economic goals. Acwa has also committed to investing in communities surrounding the site.
The project directly supports the Philippines' target of increasing the renewable energy share to 35% by 2030 and has been listed as a key investment commitment under the administration of President Ferdinand R. Marcos Jr., explicitly linked to the government's economic growth and energy security agenda. As the world's largest private seawater desalination company and an energy transition leader, Acwa Power's extensive experience in large-scale green hydrogen development also enhances the credibility of this partnership.
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