Masdar marks entry in PH renewables market

It will develop solar, wind, and energy storage facilities.

Masdar has signed agreements with the Philippine government to develop 1 gigawatt (GW) of renewable projects by 2030, signifying its entry in the country’s clean energy scene.

In a statement, the Abu Dhabi-based energy company said the implementation agreement covers the development of solar, wind, and battery energy storage systems.

The agreement will support the Philippines Energy Transition Program to achieve 35% renewable energy in power generation by 2030 and 50% by 2040. It also operationalises the deal on Energy Transition Cooperation signed in November 2024 between the Philippines and the UAE.

“By leveraging the UAE’s world-class expertise in renewable energy and the Philippines’ abundant natural resources, this agreement will create jobs, drive low-carbon socio-economic progress and expand global renewable energy capacity in line with the UAE Consensus,” said Dr Sultan Al Jaber, UAE minister of Industry and Advanced Technology and chairman of Masdar.

Prior to the Philippines, Masdar has developed other projects in Southeast Asia, including the region’s largest floating solar facility in Indonesia – the 145MW Cirata Floating Solar PV plant. It also signed an agreement with the Malaysian Investment Development Authority in 2023 for the development of 10 GW of clean energy projects across the country.