ACWA Power has signed an agreement to invest around USD 200 million in a large-scale solar power project in the Philippines to be developed in New Clark City in Tarlac province on Luzon island.
The agreement was finalised with Bases Conversion and Development Authority on the sidelines of the World Economic Forum in Davos. The project is planned over about 500 hectares and will use advanced solar photovoltaic technology with potential integration of battery energy storage systems to improve grid stability and cost efficiency.