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UAE’s clean energy leader signs implementation agreement with the Department of Energy and Memorandum of Understanding (MoU) with the Board of Investments of the Republic of the Philippines to develop up to 1GW of renewable energy projects by 2030 Signing ceremony witnessed by HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, and Raphael P. M. Lotilla, Secretary of Energy of the Philippines, on the sidelines of Abu Dhabi Sustainability Week 2025 Projects will support the Philippines National Renewable Energy Program target of 35% renewable energy in power generation by 2030 Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, has announced its entry into the Philippines market, signing agreements with the government of the Philippines to develop 1 gigawatt (GW) of clean energy projects to strengthen its growing portfolio in Southeast Asia. The Implementation Agreement with the Department of Energy and the Memorandum of Understanding (MoU) with the Board of Investments of the Republic of the Philippines covers the development of solar, wind and battery energy storage systems (BESS) with a total capacity of up to 1GW by 2030. The signing ceremony of both agreements was witnessed by HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar and Raphael P.M. Lotilla, Secretary of Energy of the Republic of the Philippines. The Implementation Agreement was signed by Undersecretary Dr. Rowena Cristina L. Guevara, Republic of the Philippines Department of Energy, and Masdar’s Chief Executive Officer, Mohamed Jameel Al Ramahi, with the MoU exchanged between the Ambassador of the Republic of the Philippines to the United Arab Emirates, Alfonso Ferdinand A. Ver, and Masdar’s CEO. The agreement, which will support the Philippines Energy Transition Program to achieve 35 percent renewable energy in power generation by 2030 and 50 percent by 2040, operationalizes the MoU on Energy Transition Cooperation signed in November 2024 between the Philippines and the UAE during the working visit of Philippine President Ferdinand R. Marcos Jr. to the country, which identified renewable energy as an area of collaboration. HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, said, “This partnership strengthens UAE-Philippines ties, leveraging UAE expertise and Philippine natural resources to create jobs, drive low-carbon economic growth, and expand global renewable energy capacity, aligned with the UAE Consensus.” Raphael P. M. Lotilla, Secretary of Energy, Philippines Department of Energy, commented, “Masdar’s expertise will help achieve the Philippines’ goal of 35% renewable energy by 2030, advancing energy security and economic growth. This partnership highlights the nation’s commitment to a clean energy future under President Marcos Jr.’s administration.” Ceferino S. Rodolfo, Undersecretary, Philippines Department of Trade and Industry, said, “Following President Marcos Jr.’s visit to the UAE, this partnership strengthens bilateral ties and aligns with the Philippines’ strategy to become a sustainable manufacturing and services hub. Masdar’s projects will drive sustainable growth, especially within Luzon’s economic corridor.” Masdar CEO, Mohamed Jameel Al Ramahi, said, “This partnership marks a significant step in Masdar’s Southeast Asia expansion. With proven expertise in large-scale renewable projects, Masdar is committed to helping the Philippines achieve its renewable energy targets and contribute to its sustainable future.” The agreement marks Masdar’s entry into the renewables sector in the Philippines. 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 is generating enough electricity to power 50,000 homes. In February 2023, it entered the geothermal energy sector through a strategic investment in Pertamina Geothermal Energy. Masdar also signed a landmark agreement with the Malaysian Investment Development Authority in 2023 for the development of 10GW of clean energy projects across the country. Since its establishment in 2006, Masdar has been a key enabler of the UAE’s vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030 and to become a leading producer of green hydrogen by the same year. It has set a target of 1 million tonnes per annum of green hydrogen or equivalent derivatives in the UAE and globally within a decade. |
