Primelectric Holdings Inc., under the leadership of Enrique K. Razon Jr., has entered into a strategic partnership with Saudi Arabia-based ACWA Power to explore renewable energy and storage solutions in Western Visayas and Palawan.
The collaboration is anchored on a joint study agreement recently signed by Primelectric president Roel Z. Castro and ACWA Power’s chief investment and development officer, Thomas Brostrom. The goal is to develop energy initiatives that can address rising electricity costs and improve the reliability of power supply in key areas such as Negros, Panay, and Palawan.
Through this agreement, the two companies will jointly assess how best to harness the abundant renewable energy resources in the region, while evaluating the integration of battery energy storage technologies. Their shared focus lies in identifying practical, cost-efficient energy generation options that align with the long-term needs of the local grid.
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Agreement details
As part of the agreement, Primelectric will contribute its local expertise by sharing technical data and insights on the energy landscape and project potential in the said areas.
Meanwhile, ACWA Power will spearhead the next phases of the partnership, taking charge of developing, financing, and managing any viable renewable energy and storage projects identified through the joint study.
ACWA Power Chief Investment and Development Officer Thomas Brostrom highlighted that the partnership combines their global expertise with Primelectric’s deep local insight. “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,” he noted.
Following the completion of the study, the two companies plan to transition into project development and investment. This next phase may introduce utility-scale renewable energy facilities and advanced battery storage solutions, aimed at strengthening grid reliability and driving down electricity costs in the target sites.
Castro highlighted the urgency of addressing the region’s growing energy demands, emphasizing the need for more stable, reliable, and cost-effective power solutions. He noted that the partnership aims to tap into the Visayas and Palawan’s rich renewable resources while exploring projects that can help ensure a more secure energy future for these areas.
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About both parties
Primelectric Holdings, the parent company of MORE Power in Iloilo, Negros Power in Central Negros, and Bohol Light, has been actively advancing modernization initiatives across its franchise areas.
ACWA Power specializes in energy generation and desalination, managing a portfolio of over 100 projects across 14 countries. The company is known for delivering cost-effective and sustainable infrastructure solutions on a global scale.
Sources:
https://www.pna.gov.ph/articles/1253708
https://tribune.net.ph/2025/07/07/visayas-palawan-clean-energy-shift-underway-2
https://www.sunstar.com.ph/iloilo/primelectric-acwa-power-sign-deal-to-explore-renewable-energy