Abu Dhabi: Abu Dhabi Future Energy Company PJSC - Masdar 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.
According to Emirates News Agency, the Implementation Agreement with the Department of Energy and the Memorandum of Understanding 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 Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and Chairman of Masdar, and Raphael P.M. Lotilla, Secretary of Energy 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 Philippines to the UAE, Alfonso Ferdinand A. Ver, and Masdar's CEO. The agreement, which will support the Philippines Energy Transition Programme to achieve 35 percent renewable energy in power generation by 2030 and 50 percent by 2040, operationalises 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.
Dr. Al Jaber stated that the partnership marks a new chapter in the relationship between the UAE and the Philippines. By leveraging the UAE's expertise in renewable energy and the Philippines' natural resources, this agreement aims to create jobs, drive low-carbon socio-economic progress, and expand global renewable energy capacity in line with the UAE Consensus.
Lotilla commented on the collaboration's significant role in advancing the goal of achieving 35 percent renewable energy in power generation by 2030. He further emphasised that the partnership underscores the Philippines' commitment to a clean energy future. By integrating renewable energy into the country's energy mix on an unprecedented scale, the Administration of President Marcos Jr. is enhancing energy security while laying a foundation for sustainable economic growth and environmental stewardship.
Ceferino S. Rodolfo, Undersecretary at the Philippines Department of Trade and Industry and Board of Investments Managing Head, highlighted the strengthening bilateral relations between the countries following the visit of Philippine President Ferdinand R. Marcos to UAE and subsequent ministerial missions. The partnership with Masdar aligns with the Philippine strategy to position itself as a smart and sustainable hub for manufacturing and services in Southeast Asia.
Al Ramahi welcomed the announcement as a significant expansion of Masdar's activities in Southeast Asia. With proven success in implementing large-scale renewable energy projects, Masdar aims to support the Philippines in meeting its ambitious renewable energy goals. The agreement marks Masdar's entry into the renewables sector in the Philippines, with Southeast Asia being a key investment destination for the company.