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ACWA Power is investing $200 million to develop a renewable energy project in New Clark City, Capas, Tarlac. This initiative aims to produce clean and reliable electricity and is part of a contract signed on January 21 at the World Economic Forum in Davos.

The project will cover 500 hectares and utilize advanced solar photovoltaic technology with battery energy storage for stable and cost-efficient power supply. The partnership, facilitated by the Bases Conversion and Development Authority (BCDA), supports President Ferdinand Marcos Jr.'s vision for sustainable energy. BCDA has reported cash revenues of P14.1 billion in 2025, exceeding its target by over 40 percent.