In line with the national government’s renewable energy agenda and efforts to draw more foreign investments into the country, the Bases Conversion and Development Authority (BCDA) has signed a has signed a USD200-million agreement with Saudi Arabian firm ACWA Power to bring clean, reliable, and affordable energy to New Clark City in Capas, Tarlac.
The agreement — signed at the InvestPhilippines Business Pavilion during the World Economic Forum in Davos, Switzerland on 21 January 2026 — marks a key step in advancing climate-resilient and future-ready developments through low-cost power solutions that combine innovation with long-term value.
BCDA President and CEO Joshua M. Bingcang emphasized that the project goes beyond providing affordable energy and employment opportunities, serving as a strategic step toward achieving long-term energy independence.
“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,” Engr. Bingcang said.
Through this initiative, ACWA Power plans to develop a large-scale renewable energy project spanning around 500 hectares in New Clark City, enhancing the city’s competitiveness as a sustainable destination for business and innovation.
The project will leverage advanced solar photovoltaic technology, with possible battery energy storage integration, to ensure stable and cost-efficient power supply, subject to detailed technical studies, site validation, and applicable approvals.
ACWA Power, a Saudi-listed company based in Riyadh, manages US$114.6 billion in assets across 15 countries in the Middle East, Africa, Central Asia, and Southeast Asia. With a contracted capacity of 93 GW of power and 9.3 million cubic meters of water per day, the company provides sustainable, reliable energy and water solutions around the world.
This partnership aligns with President Ferdinand Marcos, Jr.’s vision for a sustainable and resilient energy future for the Philippines.
Also present during the signing were ACWA Power CEO Marco Arcelli; H.E. Manuel A.J. Teehankee, Ambassador and Permanent Representative to the World Trade Organization, Hon. Deputy Speaker Ferdinand Hernandez; SSS President and CEO Robert Joseph M. De Claro; Berthaphil, Inc, President Peter Herman; Race to Net Zero Philippines CEO Dawn Cabigon; Nanay Partylist Representative Hon. Florabel Yatco; CSC Commissioner Atty. Luis Meinrado C. Pañgulayan; and BCDA Officer-in-Charge for Conversion and Development Group Engr. Mark P. Torres.
