The Bases Conversion and Development Authority (BCDA) has signed a USD 200 million agreement with Saudi Arabia–based ACWA Power to support clean and reliable energy development in New Clark City, Capas, Tarlac. The agreement supports the Philippine government’s renewable energy goals and its efforts to attract more foreign investment into the country.
The signing took place on 21 January 2026 at the InvestPhilippines Business Pavilion during the World Economic Forum in Davos, Switzerland. The partnership is seen as an important step toward building climate-resilient and future-ready infrastructure by providing low-cost and sustainable power solutions for New Clark City.
BCDA President and CEO Joshua M. Bingcang said the project is not only about affordable electricity but also about long-term benefits for the country. He explained that the initiative will help create jobs, support economic growth, and move the Philippines closer to energy independence. According to him, working with global partners like ACWA Power allows New Clark City to fully use its clean energy potential while proving that sustainability can drive development in Central Luzon.
Under the agreement, ACWA Power plans to develop a large-scale renewable energy project covering about 500 hectares within New Clark City. The project aims to strengthen the city’s position as a sustainable and attractive location for businesses, investors, and innovation-driven industries.
The proposed development will mainly use advanced solar photovoltaic technology. There is also a possibility of adding battery energy storage systems to ensure a stable and cost-efficient power supply. However, the final design and capacity of the project will depend on detailed technical studies, site assessments, and the necessary government approvals.
ACWA Power is a Saudi-listed company headquartered in Riyadh and is one of the world’s leading developers and operators of power and water projects. The company manages assets worth USD 114.6 billion across 15 countries in the Middle East, Africa, Central Asia, and Southeast Asia. It currently has a contracted power generation capacity of 93 gigawatts and water desalination capacity of 9.3 million cubic meters per day, providing sustainable energy and water solutions worldwide.
The BCDA–ACWA Power partnership supports the vision of President Ferdinand Marcos Jr. for a more sustainable and resilient energy future for the Philippines. The signing ceremony was attended by several government officials and industry leaders, including ACWA Power CEO Marco Arcelli and Philippine representatives to international organizations, highlighting the importance of the deal for the country’s clean energy transition.
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