VIA GRAPHIC PLUS | MANILA, Philippines — In a ceremony witnessed by Finance Secretary Hon. Frederick D. Go, Acwa Power Philippines signed a Joint Development Agreement (JDA) with Emerging Power Inc. (EPI) to jointly explore the development of up to 5,000 megawatts (MW) of renewable energy and gas-fired generation capacity across the Philippines.
The JDA aims to provide renewable and gas-fired power generation at national scale, to establish an immediate pathway to bid jointly into the Philippine government’s Green Energy Auction Program (GEAP), and also to serve retail electricity suppliers and distribution utilities.
Acwa Power Philippines is a subsidiary of Acwa (Saudi TADAWUL: 2082), the world’s largest private water desalination company, a leader in the energy transition, and a first mover into green hydrogen at scale. EPI is the clean energy arm of natural resources developer Nickel Asia Corporation.
Under the JDA, EPI and Acwa seek to identify new power projects nationwide and co-develop projects where their strategic objectives align.
A priority near-term track for both companies is the joint participation in the GEAP, where Acwa and EPI intend to put forward proposals in response to the Government’s call for more investments in renewable energy.
“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 Dr. Samir J. Serhan, Chief Executive Officer of Acwa.
“EPI brings deep local knowledge, an operating renewables base, and a credible growth plan. We bring three decades of delivering large-scale power and water assets on time and on budget. Together, 5,000 MW is a starting point, not a limit,” he added.
“This joint development with Acwa Power Philippines actively accelerates the nation’s transition to a low-carbon economy,” said EPI Chairman and CEO Martin Antonio G. Zamora. “Together, we are building scalable, reliable, and sustainable power infrastructure that will energize Filipino communities, drive economic growth, and safeguard our generations to come.”
Salman M. Baray, Country General Manager, Acwa Philippines, said: “This is the collaboration we’ve been building toward since we established our presence here. A collaboration that is a genuine balance that encompasses local execution capability matched with global development muscle. GEAP 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.”
This latest cooperation lands at a pivotal moment for the Philippine power sector. Rapid electrification, accelerating data center demand, and the government’s 35 percent renewables target for 2030 are all pulling in the same direction—demanding more capacity, cleaner sources, and firmer delivery. The combined Acwa-EPI platform is uniquely positioned to respond to each of those pressures simultaneously.
