Acwa Power Philippines has signed a lease agreement with the Bases Conversion and Development Authority (BCDA) to develop a utility-scale solar and battery energy storage system (BESS) project in New Clark City. The project is expected to reach up to 500 MW of solar PV and battery storage capacity upon full development, subject to regulatory approvals and future expansion phases. The project represents an initial investment of at least $400,000/MW.
In May 2026, ADB signed a $116 million financing package with Acwa Power to support the development, construction, operation, and transfer of a 300 MW wind power project in the Bukhara region, Uzbekistan. The financing includes a $50 million loan from ADB’s ordinary capital resources, $41 million from commercial lenders, and $25 million from the ADB’s Leading Asia’s Private Infrastructure Fund 2 (LEAP 2).
In February 2026, Acwa signed an investment agreement with the Ministry of Energy and Natural Resources of the Republic of Türkiye under the 5 GW intergovernmental renewable energy programme. Under the agreement, Acwa will be responsible for developing, financing, constructing, commissioning, and operating the projects. The agreements cover the development of five renewable energy projects with a combined capacity of 5 GW.