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Abu Dhabi-based Masdar, a global leader in clean energy, has announced a landmark partnership with the Philippines to develop 1 gigawatt (GW) of renewable energy projects, marking its official entry into the Southeast Asian market.
According to Reuters, under agreements signed with the Philippine government, Masdar will develop solar, wind, and battery energy storage systems (BESS) with a combined capacity of up to 1GW by 2030. These projects aim to support the Philippines’ Energy Transition Program, targeting 35% renewable energy in power generation by 2030 and 50% by 2040.
The partnership includes an Implementation Agreement with the Department of Energy and a Memorandum of Understanding (MoU) with the Board of Investments of the Philippines, signed during a ceremony attended by key officials, including Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, and Raphael Lotilla, Philippine Secretary of Energy.
Masdar CEO Mohamed Al Ramahi and Dr Rowena Guevara, Undersecretary at the Philippines Department of Energy, formalised the Implementation Agreement, while Philippine Ambassador to the UAE Alfonso Ferdinand Ver exchanged the MoU with Masdar.
Dr Sultan Al Jaber described the project as a significant milestone in the UAE-Philippines relationship. “By leveraging the UAE’s world-class expertise in renewable energy and the Philippines’ abundant natural resources, this agreement will create jobs, drive low-carbon socio-economic progress and expand global renewable energy capacity in line with the UAE Consensus,” he said.
Secretary Lotilla highlighted the transformative potential of the collaboration, emphasising the administration’s commitment to a clean energy future.
This partnership builds on the Energy Transition Cooperation MoU signed in November 2024 during Philippine President Ferdinand R. Marcos Jr.’s visit to the UAE, which prioritised renewable energy collaboration.
The Philippine Department of Energy will auction 300 MW of impounding hydro, 4,250 MW of pumped-storage hydro, and 100 MW of geothermal projects next month under its Green Energy Auction Programme. To attract more investment, the country has also allowed full foreign ownership in the renewable energy sector.
