Philippines: Acwa advances 500 MW solar and BESS, Ib Vogt reaches financial close

Two co-located solar and battery storage projects in the Philippines have advanced in the first week of June, as international developers and local investors back renewable deployment in the country. It follows the announcement of an energy storage mandate for large-scale renewables projects in February.

Acwa Power and the Philippines government have signed a lease agreement for the site of a 500 MW solar-plus-storage project.

Under the agreement, Acwa Power’s local subsidiary will develop an integrated utility-scale solar and battery energy storage system (BESS) facility with capacity of up to 500 MW, subject to final design, regulatory approvals and future expansion phases. The project is expected to represent an initial investment of at least $400,000 per MW.

The lease applies to a 500-hectare site within New Clark City, within an active special economic zone in the Philippines. The Bases and Conversion and Development Authority (BCDA) – the government-owned corporation that granted the lease – is attempting to position New Clark City as a hub for artificial intelligence, advanced manufacturing and other technology-driven industries.

Joshua M. Bingcang, president and CEO of BCDA, said the granting the lease would support the Philippines pursuit of renewable targets while also attracting “high value” tenants that require clean, dependable power.

“Anchoring Acwa inside New Clark City is a defining moment for the estate the estate. It tells global investors that this is where the Philippines’ next wave of sustainable infrastructure gets built,” said Bingcang.

Meanwhile in Barangay Luca, on Western Visayas, Ib Vogt has reached financial close on a 99 MW solar-plus-BESS project after securing a PHP 4.5 billion ($ 75 million) senior debt facility provided by Rizal Commercial Banking Corporation (RCBC).

The project pairs 99 MWp of solar capacity with a 4 MW/16 MWh BESS. Early EPC work started at the site in early 2026 and Ib Vogt is aiming to commission the project by the second quarter of 2027.

David Ludwig, CEO for Asia Pacific at Ib Vogt said the Barangay Luca project was the developer’s first in the Visayas, describing the region as a market with significant demand fundamentals and strong potential for growth.

“RCBCs commitment reflects confidence in the project’s structure and Ib Vogt’s track record of delivery in the Philippines. We look forward to bringing it into construction and operation,” Ludwig said.

Ib Vogt has more than 1 GW of pipeline projects in the Philippines and it has identified the island nation as its priority market in Southeast Asia.

Other notable co-located projects in the Philippines include MTerra, which is expected to deliver up to 3.5 GW of installed solar capacity when complete, backed by a 4.5 GWh BESS. Developed by Actis and others, the project is set to become one of the world’s largest integrated solar-plus-storage facilities once fully completed.