Masdar Enters Philippines Renewables Market With 1GW Goal by 2030

The agreement operationalises the MoU on energy transition cooperation signed in November 2024 between the two nations.

Wedoany.com Report-Jan 17, Masdar, the United Arab Emirates’ clean energy provider, has announced its entry into the Philippines renewables market, with agreements to develop 1GW of clean energy projects.

The agreements with the government of the Philippines involve the development of solar, wind and battery energy storage systems (BESS) with a total capacity of up to 1GW by 2030.

The move strengthens Masdar’s growing portfolio in Southeast Asia.

The implementation agreement with the Department of Energy (DoE) and the memorandum of understanding (MoU) with the Board of Investments of the Philippines aim to support the Philippines energy transition programme.

Masdar CEO Mohamed Jameel Al Ramahi stated: “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 100GW by 2030.

“With our proven success in implementing large-scale renewable energy projects in the region and worldwide, we look forward to utilising our expertise and experience to support the Philippines in meeting its ambitious renewable energy goals.”

The energy transition programme aims to achieve 35% renewable energy in power generation by 2030 and 50% by 2040.

This agreement operationalises the MoU on energy transition cooperation signed in November 2024 between the two nations.

According to the agreement, the DoE will support Masdar in carrying out pre-development tasks, conducting technical studies, acquiring necessary rights, collecting project data and securing all required approvals and permits.

It will also help Masdar with applications for investment incentives and tax exemptions.

Masdar will lead project development, overseeing commercial, technical, financial and environmental workstreams.

The signing ceremony of both agreements was witnessed by UAE Minister of Industry and Advanced Technology and Masdar chairman Sultan Al Jaber, and Secretary of Energy of the Philippines Raphael PM Lotilla.

The implementation agreement was signed by Undersecretary Rowena Cristina L Guevara from the Philippines DoE and Masdar CEO Mohamed Jameel Al Ramahi.

Lotilla stated: “Beyond enhancing energy security and reducing reliance on fossil fuels, this collaboration will deliver significant economic benefits to the country, creating opportunities for job generation, driving technology transfer and empowering the local workforce with advanced skills in clean energy development. Together, we are positioning the Philippines as a regional leader in sustainable energy.”