ACWA Power Expands in Asia with Renewable Energy Project Agreement in the Philippines

Davos | EcoPulse24

ACWA Power has announced the signing of an agreement with the Bases Conversion and Development Authority of the Philippines to reserve dedicated areas for the development of large-scale renewable energy projects in New Clark City. The announcement took place during the 2026 World Economic Forum in Davos.

According to the company’s statement, the agreement focuses on developing a major solar energy project, with the potential for advanced battery energy storage systems within the New Clark City economic zone - a model smart and green city located north of Manila. The initiative supports the Philippines’ energy transition and enhances the city’s appeal for energy-intensive sectors by providing clean, reliable, and competitively priced supplies.

The partnership leverages ACWA Power’s global renewable portfolio, which totals 52 GW of capacity, in addition to an expected 5.6 GWh of battery storage. Following the initial memorandum of understanding signed in Riyadh on November 27, 2025, both parties began identifying strategic sites within New Clark, selecting a 500-hectare area for pre-feasibility studies.

The partners will also study an integrated model combining utility-scale solar energy and storage systems, aiming to extend renewable generation periods and boost grid flexibility. The project is expected to reinforce New Clark City’s vision as a model for sustainable urban development resilient to climate change, while backing the Philippines’ strategy to attract long-term green investments.

EcoPulse24 Analysis:
The agreement highlights ACWA Power’s accelerating regional presence in emerging Asian markets and demonstrates the shift of Gulf energy companies from local expansion to playing a significant role in global energy transition supply chains. Integrating solar and storage positions the project among new-generation energy infrastructure, where value extends beyond generation to grid stability and sustainable industry support, enhancing the competitiveness and investment appeal of new economic cities.