RAZON-LED Primelectric Holdings, Inc. (PHI) has entered into a partnership with Saudi Arabia-based energy developer ACWA Power to jointly explore renewable energy (RE) and energy storage opportunities in the Philippines.
鈥淭his partnership comes at a critical time as our regions require more resilient, reliable, and affordable power sources,鈥 PHI President Roel Z. Castro said in a statement over the weekend.
鈥淭hrough this collaboration, we aim to explore projects that will stabilize power supply and harness the abundant renewable resources of the Visayas and Palawan,鈥 it added.
Under the deal, PHI will provide technical data and insights on potential power generation projects in the identified areas, while ACWA Power will lead the development, financing, and operation of viable projects.
The two companies will assess 鈥渢he most viable鈥 power generation options for Negros, Panay, and Palawan, aiming to optimize power costs while maximizing the potential of renewable energy and energy storage technologies.
PHI is the parent firm of distribution utilities MORE Electric and Power Corp., Negros Electric and Power, Inc., and Bohol Light Co.
Meanwhile, ACWA Power operates as a developer, investor, and operator in renewable energy and green hydrogen. It is also the world鈥檚 largest private water desalination company.
As of 2025, the company鈥檚 portfolio includes 78.8 gigawatts of capacity, including projects with record-low solar tariffs.
鈥淏y bringing together ACWA Power鈥檚 global expertise and Primelectric鈥檚 deep understanding of the local market, we are not only fast-tracking the rollout of clean energy projects in this part of the Philippines but also driving technology transfer and contributing to long-term economic growth and community development,鈥 said ACWA Power Chief Investment and Development Officer Thomas Brostrom. 鈥 Sheldeen Joy Talavera
