UAE’s Masdar to Develop 1 GW of Clean Energy in Philippines

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UAE’s Masdar to Develop 1 GW of Clean Energy in Philippines

Clean energy firm Masdar has officially entered the Philippine market, signing agreements with the Southeast Asian nation’s government to develop 1 gigawatt (GW) of clean energy. The United Arab Emirates (UAE) energy company’s agreements with the Philippines’ Department of Energy and Board of Investments cover the development of solar, wind, and battery energy storage systems […]

Clean energy firm Masdar has officially entered the Philippine market, signing agreements with the Southeast Asian nation’s government to develop 1 gigawatt (GW) of clean energy.

The United Arab Emirates (UAE) energy company’s agreements with the Philippines’ Department of Energy and Board of Investments cover the development of solar, wind, and battery energy storage systems (BESS) with a total capacity of up to 1 GW by 2030.

The agreement follows a memorandum of understanding on Energy Transition Cooperation signed in November 2024 between the Philippines and the UAE. It will support the country’s energy transition program, which aims to achieve 35 percent renewable energy in power generation by 2030 and 50 percent by 2040.

Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, said, “This partnership marks a new chapter in the longstanding relationship between the UAE and the Philippines. 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”.

Ceferino Rodolfo, Undersecretary at the Philippines Department of Trade and Industry and Board of Investments Managing Head, said, “It is inspiring to witness the strengthening of the bilateral relations between our countries, following the visit of Philippine President Ferdinand R. Marcos to UAE last year and a series of reciprocal ministerial missions thereafter. The partnership with Masdar is a testament to our mutual commitment to fostering a dynamic and sustainable economic future, and our shared vision for economic sustainability and prosperity. This aligns seamlessly with the Philippine strategy to position ourselves as a smart and sustainable hub for manufacturing and services in Southeast Asia”.

Masdar CEO Mohamed Jameel Al Ramahi, said, “We welcome this announcement as a significant expansion of Masdar’s activities in Southeast Asia, a key strategic market in our ongoing efforts to achieve a renewable energy capacity of 100 GW by 2030. With our proven success in implementing large-scale renewable energy projects in the region and worldwide, we look forward to utilizing our expertise and experience to support the Philippines in meeting its ambitious renewable energy goals”.

According to the release, Southeast Asia is a key investment destination for Masdar. The company has developed the region’s largest floating solar facility in Indonesia: the 145MW Cirata Floating Solar PV plant, which generates enough electricity to power 50,000 homes.

In February 2023, Masdar entered the geothermal energy sector through a strategic investment in Pertamina Geothermal Energy. It also signed a landmark agreement with the Malaysian Investment Development Authority in 2023 for the development of 10 GW of clean energy projects across the country.

Masdar stated that it has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100 GW by 2030 and to become a leading producer of green hydrogen by the same year. It has set a target of 1 million metric tons per annum of green hydrogen or equivalent derivatives in the UAE and globally within a decade.

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