An integrated photovoltaic (PV) and battery energy storage facility is set to rise on a 500-hectare site in New Clark City, strengthening the government\u2019s push to expand renewable energy (RE) capacity.<\/p>\n
Bases Conversion and Development Authority (BCDA) President and Chief Executive Officer (CEO) Joshua Bingcang and Acwa Power Philippines President Salman Baray on Tuesday signed a lease agreement for the development of a utility-scale solar and battery energy storage system (BESS).<\/p>\n
In a statement on Wednesday, BCDA said the facility \u201crepresents an initial investment of at least USD400,000 per megawatt (MW), with a capacity of up to 500 MW upon full build-out, subject to final design, regulatory approvals, and future expansion phases.\u201d<\/p>\n
Acwa Power Philippines is a subsidiary of Saudi Arabia-based Acwa Power Company, the world\u2019s largest private water desalination company, a leader in the energy transition, and a pioneer in utility-scale green hydrogen development.<\/p>\n
The project supports the Marcos administration\u2019s efforts to accelerate economic growth and expand the country\u2019s renewable energy portfolio.<\/p>\n
In a separate statement, Finance Secretary Frederick Go said Acwa Power\u2019s decision to invest in the Philippines \u201cis a strong vote of confidence in the country and the reforms being pursued under this administration.\u201d<\/p>\n
\u201cThis will help unlock new investments, create quality jobs for Filipinos, and foster more resilient growth for Central Luzon and the Philippines for years to come,\u201d he said.<\/p>\n
For his part, Acwa Power Chief Executive Officer Dr. Samir Serhan said New Clark City reflects the kind of integrated, future-ready development that global energy investors seek.<\/p>\n
\u201cWorking 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\u2019s broader economic ambitions through reliable renewable energy,\u201d Serhan added. (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"
The development highlights continued investments in clean energy infrastructure and modern power solutions.<\/p>\n","protected":false},"author":73,"featured_media":264606,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19565],"tags":[],"class_list":["post-264605","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business-today"],"zyndk8_nxtgen_metadata":{"nxtgen_comments":[{"9300":"sana maging affordable ang electricity kapag dumami ang ganitong projects \ud83d\udcb8\r","9301":"clean energy, jobs at investment, tatlong magandang epekto nito \ud83d\udc99\r"}]},"yoast_head":"\n