Primelectric, ACWA Power Sign Deal on Renewable Projects

By Francis Allan L. Angelo

Primelectric Holdings Inc. and Saudi Arabia-based ACWA Power have signed a joint study agreement to explore renewable energy and energy storage opportunities in Western Visayas and Palawan.

Roel Z. Castro, president of Primelectric, and Thomas Brostrom, chief investment and development officer of ACWA Power, formalized the partnership in a recent ceremony in Manila.

ACWA Power, a global leader in power generation and desalinated water solutions, operates more than 100 assets in 14 countries, with a strong focus on sustainable and low-cost energy projects.

Primelectric is the parent firm of MORE Power in Iloilo, Negros Power in Central Negros, and Bohol Light, all of which aim to modernize power distribution and lower electricity costs through innovative solutions.

The joint study will assess viable renewable energy and storage projects in Negros, Panay and Palawan, with a goal of optimizing power costs and maximizing the region’s clean energy potential.

“This partnership comes at a critical time as our regions require more resilient, reliable and affordable power sources,” Castro said.

He added that the study will help stabilize the power supply and harness the renewable energy potential of the Visayas and Palawan.

Under the agreement, Primelectric will provide technical data and insights on potential projects, while ACWA Power will lead development, financing and operations of feasible ventures.

“We are pleased to work with ACWA Power, a globally respected energy player, to bring transformative and sustainable solutions to our communities,” Castro said.

He said the partnership reflects their commitment to providing clean, stable and affordable power to the islands they serve.

Once viable projects are identified and approved, both firms will proceed to development and investment phases, potentially bringing large-scale renewable energy installations and advanced storage systems to the region.

“By combining ACWA Power’s global expertise with Primelectric’s local market knowledge, we can fast-track clean energy development in this part of the Philippines,” Brostrom said.

He added the collaboration also aims to promote technology transfer, spur economic growth and support long-term community development.