Masdar to Develop 1 GW Renewable Energy Projects in the Philippines by 2030

17 Jan 2025 CW Team

Masdar, the Abu Dhabi Future Energy Company, has signed agreements with the Philippine government to develop 1 GW of renewable energy projects by 2030. The projects, spanning solar, wind, and battery energy storage, support the Philippines’ target of achieving 35 per cent renewable energy in power generation by 2030 and 50 per cent by 2040.

The agreements include an Implementation Agreement with the Department of Energy and an MoU with the Board of Investments, signed in the presence of UAE Minister Dr. Sultan Al Jaber and Philippines Energy Secretary Raphael P.M. Lotilla.

Masdar’s efforts will align with the Luzon Economic Corridor's development, encompassing Subic Bay, Clark, Manila, and Batangas, positioning these zones as hubs for commerce and renewable energy.

Masdar CEO Mohamed Jameel Al Ramahi noted this partnership marks a significant step in Masdar’s expansion in Southeast Asia, complementing its existing projects like Indonesia’s 145 MW Cirata Floating Solar Plant and Malaysia’s 10 GW clean energy initiative.

Founded in 2006, Masdar has developed projects in over 40 countries and aims to produce 1 million tonne of green hydrogen annually by 2030, reinforcing its role in global energy transition efforts.

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