^{In photo: The BCDA and ACWA Power Philippines signed a contract lease agreement for a 500-hectare land lease agreement to develop a utility-scale solar and battery energy storage facility in New Clark City. The ceremony was led by BCDA President and CEO Joshua M. Bingcang and ACWA Power Philippines President Salman M. Baray. Also present to witness were Department of Finance Secretary Frederick D. Go and ACWA Power Global Chief Executive Officer Dr. Samir J. Serhan}

ACWA Power Philippines and Bases Conversion and Development Authority (BCDA) have signed a contract of lease covering a 500-hectare site in New Clark City for a utility-scale solar photovoltaic and battery energy storage (PV-BESS) facility, positioning the estate as a future supply base for data centers and advanced industries.

The agreement marks one of the key clean energy investment commitments by the government as part of broader efforts to strengthen energy security and attract high-value industrial investments.

Department of Finance Secretary Frederick D. Go was present to witness the signing on June 2, 2026.

“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,” he said.

Under the lease, ACWA Power Philippines plans to develop an integrated PV-BESS facility with a potential capacity of up to 500 megawatts (MW), subject to final design, regulatory approvals, and staged expansion. The project carries an indicative investment of at least USD 400,000 per MW.

ACWA Power Chief Executive Officer Dr. Samir J. Serhan said the Philippines is gaining traction among global infrastructure investors.

“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.

ACWA Philippines Country General Manager Salman M. Baray said the scale of the site enables a fully integrated approach rather than incremental development.

“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.

BCDA President and CEO Engr. Joshua M. Bingcang said the partnership strengthens the estate’s positioning as a green industrial hub.

“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,” he said.

Bingcang added that aligning ACWA Power’s experience with BCDA’s development mandate will help “accelerate the country’s renewable targets and attract the high-value tenants that depend on clean, dependable power.”

The solar-plus-storage facility is expected to serve as an anchor power source within the special economic zone, supplying renewable electricity to data centers, manufacturing facilities, and other energy-intensive users in the master-planned estate.

The development aligns with the Philippine government’s target of raising the share of renewable energy in the national mix to 35% by 2030, while reinforcing New Clark City’s positioning as a smart, sustainable urban and industrial hub.

The lease also marks ACWA Power’s first land agreement with a Philippine government agency, signaling deeper investor interest in large-scale renewable energy and infrastructure development in the country.

Does this deal meaningfully accelerate the Philippines’ push for industrial-scale renewables, or is grid integration and offtake certainty still the binding constraint?

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