Author: PPD Team Date: 17/01/2025
Masdar, the United Arab Emirates’ clean energy provider, has entered the Philippines renewables market with agreements to develop 1GW of solar, wind, and battery energy storage systems (BESS) by 2030.
The agreements, signed with the Philippines Department of Energy (DoE) and the Board of Investments, support the country’s energy transition programme. This initiative aims to achieve 35% renewable energy in power generation by 2030 and 50% by 2040.
Masdar CEO Mohamed Jameel Al Ramahi highlighted the company’s commitment to Southeast Asia and its goal of achieving 100GW renewable energy capacity by 2030. The projects will involve pre-development tasks, technical studies, data collection, and securing permits, with Masdar overseeing development, including commercial, technical, financial, and environmental workstreams.
UAE Minister of Industry and Advanced Technology and Masdar chairman Sultan Al Jaber, along with Philippines Energy Secretary Raphael PM Lotilla, attended the signing ceremony.
Lotilla stated that the collaboration would boost energy security, reduce reliance on fossil fuels, and generate economic benefits, including job creation, technology transfer, and workforce upskilling in clean energy.
The agreements operationalise the energy transition memorandum of understanding (MoU) signed in November 2024.