_{In photo: Roel Castro (sitting from left), president of Primelectric Holdings Inc., and Thomas Brostrom, chief investment and development officer of ACWA Power, sign a Joint Study Agreement to explore renewable energy and energy storage opportunities in Visayas and Palawan.}

Local utility firm Primelectric Holdings, Inc. has signed a joint study agreement with Saudi Arabia-based ACWA Power to explore renewable energy and energy storage opportunities in Western Visayas and Palawan.

The agreement was signed at a ceremony held in Manila by Primelectric President Roel Castro and ACWA Power Chief Investment and Development Officer Thomas Brostrom, according to a statement from More Electric and Power Corp. (MORE Power) released on Monday.

The collaboration aims to optimize power costs while expanding the use of clean energy technologies in the identified regions. Under the agreement, Primelectric will provide technical insights and local data, while ACWA Power will lead the development, financing, and eventual operation of feasible projects.

“This partnership comes at a critical time as our regions require more resilient, reliable, and affordable power sources,” said Castro. “Through this collaboration, we aim to explore projects that will stabilize power supply and harness the abundant renewable resources of the Visayas and Palawan.”

If viable projects are identified and agreed upon, the companies plan to move into full development and investment phases. These can potentially roll out large-scale renewable energy facilities and advanced battery storage systems to support local energy demand.

ACWA Power operates more than 100 assets across 14 countries, specializing in power generation and desalinated water solutions. Primelectric Holdings, meanwhile, is the parent company of distribution utilities such as MORE Power in Iloilo, Negros Power in Central Negros, and Bohol Light.

“By bringing together ACWA Power’s global expertise and Primelectric’s deep understanding of the local market, we are not only fast-tracking the rollout of clean energy projects in this part of the Philippines but also driving technology transfer, and contributing to long-term economic growth and community development,” Brostrom said.

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