The Saudi Arabian firm ACWA Power is set to explore renewable energy initiatives in New Clark City after the company and the Bases Conversion and Development Authority (BCDA) signed a Memorandum of Understanding (MOU) in Riyadh, Saudi Arabia on November 27, 2025.

According to BCDA President and CEO Engr. Joshua M. Bingcang, the ACWA Power is a Saudi-listed company headquartered in Riyadh, managing USD114.6-billion in assets across 15 countries in the Middle East, Africa, Central Asia, and Southeast Asia.

He added that the company has a contracted capacity of 93 GW of power and 9.3 million m³ of water per day, delivering sustainable and reliable solutions around the world.

The said collaboration strengthens BCDA’s push to support the national sustainability goals and the renewable energy program, and deliver long-term value to communities.

The renewable energy projects will enable the entry of energy-intensive industries such as data centers and semiconductor and electronics manufacturing, supporting New Clark City’s vision as a hub for high-tech, sustainable industries.

“This partnership aligns with President Ferdinand Marcos, Jr.’s vision for a sustainable and resilient energy future for the Philippines,” he said.

Also present during the MOU signing ceremony are BCDA VP for Strategic Projects Management Engr. Randy Viacrusis, ACWA Power's Founder and Chairman of the Board of Directors Mohammad Abunayyan, and ACWA Power's Chief Investment and Development Officer Thomas Brostrøm.

Bingcang led the BCDA delegation to the Global Industry Summit, 21st UNIDO General Conference held in Riyadh, Saudi Arabia that started on November 26, 2025.

Bingcang highlighted the Clark Freeport and Special Economic Zone as a prime example of sustainable development, fulfilling BCDA's mandate to create vibrant, future-ready communities.

“In Clark, we already injected the future-proofing, the open spaces... [and] adapted accordingly to make sure it will withstand climate change challenges,” Bingcang said.

This strategy is coupled with a policy of providing incentives and premiums to encourage private sector partners to adopt sustainable and environmentally friendly initiatives.

The conference served as the launchpad for UNIDO’s pivotal Sustainable Cities initiative, featuring the launch of UNIDO’s Sustainable Cities white paper. This session directly aligns with UNIDO’s expertise and tools for sustainable urban-industrial development.