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’s push to expand renewable energy (RE) capacity.

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).

In a statement on Wednesday, BCDA said the facility “represents 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.”

Acwa Power Philippines is a subsidiary of Saudi Arabia-based Acwa Power Company, the world’s largest private water desalination company, a leader in the energy transition, and a pioneer in utility-scale green hydrogen development.

The project supports the Marcos administration’s efforts to accelerate economic growth and expand the country’s renewable energy portfolio.

In a separate statement, Finance Secretary Frederick Go said Acwa Power’s decision to invest in the Philippines “is a strong vote of confidence in the country and the reforms being pursued under this administration.”

“This 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,” he said.

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.

“Working 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’s broader economic ambitions through reliable renewable energy,” Serhan added. (PNA)