Acwa Power Philippines advances 500-MW PV project

Acwa Power Philippines and the Bases Conversion and Development Authority (BCDA) have signed a lease agreement for a 500-hectare site in New Clark City, clearing the way for the development of a utility-scale solar photovoltaic and battery energy storage system project, POWERLINE reports.

The agreement marks a significant step in the Philippines’ transition towards cleaner energy and supports government efforts to attract high-value industrial investment to the country’s flagship smart city.

Under the lease, Acwa Power Philippines will develop an integrated solar and battery storage facility with an eventual capacity of up to 500MW. The final capacity will depend on project design, regulatory approvals and future expansion phases.

The project will require an initial investment of at least $400,000 per MW. Based on the planned capacity, this implies a minimum investment of about $200mn.

The facility is intended to provide reliable renewable power for data centres, advanced manufacturing plants, artificial intelligence-related industries and other energy-intensive operations that choose to locate in New Clark City.

The development is expected to strengthen the city's appeal as a destination for technology-driven and industrial investments while supporting the wider adoption of renewable energy in the Philippines.