ACWA Power's core business covers investment, development, and operation of power generation, seawater desalination, and green hydrogen projects. Recently, EPI, a new energy division under the Philippine Asian Nickel Group, signed a JDA to jointly develop renewable energy and gas-fired power projects with a total installed capacity of up to 5000 megawatts in the Philippines.

Define the scope of cooperation

This cooperation is one of the top clean energy cooperation projects in the Philippines' power sector in recent times, which can effectively meet the sustained growth of local electricity demand and help the Philippines steadily advance its renewable energy development goals. According to the agreement, Abu Dhabi Hydro Group and Emerging Power Company will screen, evaluate, invest in, and develop large-scale utility level new energy and gas power generation projects throughout the Philippines, fully supplying stable, green, and cost-effective electricity resources, and promoting the country's energy transformation and long-term economic steady development.

The scope of cooperation between the two parties includes joint development of photovoltaic, wind power, energy storage, and natural gas power generation projects. At the same time, they will actively participate in various new energy bidding projects released by the Philippine government, with a focus on aligning with the country's green energy auction plan.

Outlook for Development Prospects

Both parties will fully leverage their respective resource advantages: relying on the mature operation and development experience of Abu Dhabi Hydro Group's global large-scale energy infrastructure, combined with EPI's deep cultivation of the local Philippine market's resource accumulation and project implementation capabilities, to accelerate the landing and construction of various energy projects. The Philippines has a clear plan to increase the proportion of renewable energy generation to 35% by 2030. The current acceleration of local urbanization, continuous upgrading of industries, and continuous improvement of digital infrastructure, coupled with the increasing investment in data centers, have led to a sustained rise in electricity demand, providing broad development space for new power generation projects.

Asia Nickel Group is a leading producer of laterite nickel ore in Southeast Asia. The group relies on its subsidiary EPI to layout the new energy track, focusing on investing and constructing in the fields of renewable energy and sustainable infrastructure. Keywords: Philippines, New Energy, Energy Transition

The 5 GW energy project reserve planned this time will further strengthen the energy security guarantee of the Philippines, assist in local energy conservation and emission reduction, green and low-carbon development, and fully meet the sustained growth of domestic electricity supply demand in the coming years.Editor/Gong Ziwei