Saudi Arabia’s ACWA Power Philippines and Emerging Power Inc. (EPI) have signed an agreement to jointly explore and develop up to 5,000 megawatts (MW) of renewable energy (RE) and gas-fired generation capacity across the country.

In a statement on Thursday, June 4, the companies said the partnership aims to provide clean and gas-fired power generation on a national scale. It also establishes an immediate pathway for both firms to jointly bid in the Philippine government’s Green Energy Auction (GEA) Program while serving retail electricity suppliers and distribution utilities.

Under the joint development agreement, EPI and ACWA Power will identify new power projects nationwide and co-develop facilities where their strategic objectives align.

A near-term priority for both companies is their joint participation in the Department of Energy’s (DOE) RE initiatives, including responding to the government’s call for more investments in the sector.

“The Philippines has set one of the most ambitious clean energy trajectories in Southeast Asia, and reaching it requires partners who can move at scale and at pace,” said Samir J. Serhan, chief executive officer (CEO) of ACWA.

Serhan added that EPI brings deep local knowledge and an operating RE base, while ACWA brings three decades of experience in delivering large-scale assets.

“Together, 5,000 MW is a starting point, not a limit,” he said.

EPI Chairman and CEO Martin Antonio G. Zamora said the collaboration will help accelerate the country’s transition to a low-carbon economy.

“Together, we are building scalable, reliable, and sustainable power infrastructure that will energize Filipino communities, drive economic growth, and safeguard our generations to come,” Zamora said.

ACWA Power Philippines is a subsidiary of ACWA, the world’s largest private water desalination company and a leader in the energy transition. Meanwhile, EPI serves as the clean energy arm of natural resources developer Nickel Asia Corp. (NAC).

Salman M. Baray, country general manager of ACWA Philippines, said the collaboration combines local execution capability with global development expertise.

“GEA may be the obvious first test, but the real value is the longer pipeline we can shape together, including firm capacity where the grid needs it,” Baray said.

The partnership comes at a pivotal time for the local power sector, which faces rapid electrification, accelerating data center demand, and a government target of increasing the share of RE in the power mix to 35 percent by 2030. - Gabriell Christel Galang