[SMM Photovoltaic] ACWA Power Inks Deal for 500MW Solar-Plus-Storage Project in Philippines

Published: Jun 15, 2026 09:09

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ACWA Power Inks Deal for 500MW Solar-Plus-Storage Project in New Clark City, Philippines

Saudi Arabian energy developer ACWA Power has officially signed a lease agreement with the Bases Conversion and Development Authority (BCDA) of the Philippines to develop a 500MW large-scale solar-plus-storage project in the iconic smart city, New Clark City. Spanning approximately 500 hectares within the New Clark Special Economic Zone (SEZ), the project will be spearheaded by ACWA Power’s local subsidiary. This milestone marks the company's first-ever land agreement signed with a Philippine government agency.

Designated as a flagship power supply project for the economic zone, the solar-and-storage facility will deliver clean energy to data centers, advanced manufacturing hubs, and AI-driven industries within the park. The minimum investment for the project is estimated at $400,000 per megawatt.

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