Masdar, the UAE’s clean energy leader, 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.

The Implementation Agreement with the Department of Energy and the Memorandum of Understanding (MoU) 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 HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar and Raphael P.M. Lotilla, Secretary of Energy of the Republic 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 Republic of the Philippines to the United Arab Emirates, Alfonso Ferdinand A. Ver, and Masdar’s CEO.

The agreement, which will support the Philippines Energy Transition Program to achieve 35 percent renewable energy in power generation by 2030 and 50 percent by 2040, operationalizes 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.

The agreement marks Masdar’s entry into the renewables sector in the Philippines. Southeast Asia is a key investment destination for Masdar. The company has developed the region’s largest floating solar facility in Indonesia – the 145MW Cirata Floating Solar PV plant – which is generating enough electricity to power 50,000 homes. In February 2023, it entered the geothermal energy sector through a strategic investment in Pertamina Geothermal Energy. Masdar also signed a landmark agreement with the Malaysian Investment Development Authority in 2023 for the development of 10GW of clean energy projects across the country.

Since its establishment in 2006, Masdar has been a key enabler of the UAE’s vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030 and to become a leading producer of green hydrogen by the same year. It has set a target of 1 million tonnes per annum of green hydrogen or equivalent derivatives in the UAE and globally within a decade.