Abu Dhabi Future Energy Company PJSC (Masdar), the UAE’s leading clean energy developer, has officially entered the Philippine renewable energy market by signing agreements to deliver 1 gigawatt (GW) of clean energy projects by 2030. This initiative aligns with the Philippines’ Energy Transition Program, targeting 35% renewable energy in power generation by 2030 and 50% by 2040.
The agreements, signed with the Philippine government, include an Implementation Agreement with the Department of Energy and a Memorandum of Understanding (MoU) with the Board of Investments. These projects will focus on solar, wind, and battery energy storage systems (BESS). The signing ceremony was witnessed by prominent officials, including HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, and Philippine Energy Secretary Raphael P.M. Lotilla.
“This partnership marks a new chapter in the longstanding relationship between the UAE and the Philippines. By leveraging the UAE’s expertise and the Philippines’ natural resources, this agreement will create jobs, drive low-carbon progress, and expand global renewable energy capacity,” Dr. Al Jaber said.
Masdar CEO Mohamed Jameel Al Ramahi expressed optimism about the project, stating, “This expansion highlights our commitment to Southeast Asia as a strategic market. We look forward to supporting the Philippines in achieving its renewable energy ambitions.”
Philippine Secretary of Energy Raphael Lotilla highlighted the importance of the collaboration, saying, “This partnership underscores our commitment to a clean energy future, enhancing energy security while promoting sustainable growth and environmental stewardship.”
The agreement builds on the Energy Transition Cooperation pact signed during President Ferdinand Marcos Jr.’s 2024 visit to the UAE. It also aligns with broader efforts to position the Philippines as a sustainable hub for commerce and industry.
Masdar has an extensive track record in renewable energy, including Southeast Asia’s largest floating solar facility in Indonesia and clean energy projects across Malaysia. Globally, Masdar aims to achieve a renewable energy portfolio of 100GW and produce 1 million tonnes of green hydrogen annually by 2030.
