SAUDI Arabian energy firm ACWA Power is investing $200 million to produce clean, reliable and affordable electricity to New Clark City in Capas, Tarlac, the Bases Conversion and Development Authority (BCDA) said on Friday.
Established in 2004 in Riyadh as a private sector initiative, ACWA develops, operates and invests in power generation, desalinated water and green hydrogen plants. It is the world’s largest private water desalination company.
Water desalination is the process of removing salts and other minerals from seawater or brackish groundwater to produce fresh water suitable for human consumption, irrigation or industrial use.
ACWA manages $114.6 billion in assets across 15 countries in the Middle East, Africa, Central Asia and Southeast Asia.
Its portfolio generates 93 gigawatts of power and 9.3 million cubic meters per day of desalinated water.
Its contract with the Philippines — signed on Jan. 21 at the World Economic Forum in Davos, Switzerland — enables ACWA to develop a 500-hectare renewable energy project in New Clark City.
BCDA President Joshua Bingcang and ACWA CEO Marco Arcelli signed the deal, witnessed by Ambassador and Permanent Representative to the World Trade Organization Manuel Teehankee, House of Representatives Deputy Speaker Ferdinand Hernandez, SSS President and CEO Robert Joseph de Claro, Berthaphil President Peter Herman, Race to Net Zero Philippines CEO Dawn Cabigon, Nanay Party-list Rep. Florabel Yatco, Civil Service Commissioner Luis Meinrado Pañgulayan and BCDA Officer in Charge for Conversion and Development Group Mark Torres.
“Together with partners such as ACWA Power, we can maximize New Clark City’s clean energy potential and show that sustainability can be a powerful driver of economic growth in Central Luzon,” Bingcang said in a statement.
The project will leverage advanced solar photovoltaic technology with battery energy storage integration to ensure stable and cost-efficient power supply, subject to detailed technical studies, site validation and applicable approvals, BCDA said.
It aligns with President Ferdinand Marcos Jr.’s vision for a sustainable and resilient energy future for the country.
In 2025, the BCDA posted P14.1 billion in cash revenues, surpassing its P10 billion target by over 40 percent and exceeding the P11.66 billion in 2024 by 20.9 percent.
