UAE-based Masdar has entered the Philippines renewable energy market with an agreement to develop up to 1 GW of renewable energy (RE) projects by 2030. The agreement includes an Implementation Agreement with the Department of Energy (DOE) and a memorandum of understanding (MoU) with the Board of Investments of the Philippines. The projects will involve solar, wind, and battery energy storage systems (BESS) and contribute to the Philippines’ goal of achieving 35% renewable energy in power generation by 2030.
This collaboration is part of the Philippines’ broader Energy Transition Program and builds on the Philippines-UAE Energy Transition Cooperation MoU signed in November 2024. The partnership underscores both nations’ commitment to advancing sustainable energy solutions and driving economic growth.