The Philippines’ Department of Energy (DOE) has signed an agreement with UAE-based renewable energy firm Masdar to develop up to 1,000 MW of renewable energy (RE) capacity across the country. The deal, formalized during the Abu Dhabi Sustainability Week, builds on a Memorandum of Understanding signed in November 2024 between the Philippines and the UAE. The partnership focuses on solar, wind, and energy storage projects to be completed by 2030, with potential to expand to 10,000 MW within a decade, driven by a projected UDS15 billion investment.
Under the terms, the DOE will assist Masdar with necessary approvals, technical studies, and securing incentives, while Masdar will lead the project development. This collaboration is seen as a major step toward the Philippines’ goal of increasing RE’s share in the power mix to 35 percent by 2030 and 50 percent by 2050, a critical move for enhancing energy security and reducing dependence on fossil fuels.
The deal is expected to create significant economic benefits, including job creation, technology transfer, and advanced skills development for the local workforce. DOE Secretary Raphael Lotilla highlighted the economic growth potential, positioning the Philippines as a regional leader in clean energy. This agreement also marks Masdar’s strategic entry into Southeast Asia, complementing its existing investments in Indonesia and Malaysia.
The Philippines’ renewable energy sector, accounting for 31.5 percent of the country’s power mix at present, is poised for substantial growth as the government accelerates its energy transition efforts.
