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DTI courts UAE's Masdar for green energy investment

Business | Trade & Industry

DTI courts UAE's Masdar for green energy investment

By Manila Bulletin

The Department of Trade and Industry (DTI) is optimistic about a potential partnership with Masdar, a leading global renewable energy company, to boost the Philippines' renewable energy sector.

In a recent meeting, DTI Secretary Cristina A. Roque met with top executives from Masdar to discuss potential collaborations and investments in the country's clean energy infrastructure.

Roque said the meeting highlighted the growing attractiveness of the Philippines as a destination for renewable energy investment in Asia.

Masdar, established in 2006 as part of the UAE government's commitment to clean energy leadership, aims to develop up to 2GW of renewable energy capacity in the ASEAN region by 2025.

Roque emphasized the Philippines' potential to become a key player in this market, stating, "We are delighted to partner with Masdar to accelerate the development of solar, wind, and geothermal projects, which are vital to achieving our sustainability and energy security goals."

Masdar is actively exploring partnership opportunities in the Philippines to invest in renewable energy projects.

With the country's National Renewable Energy Program (NREP) aiming to increase the renewable energy share to 35 percent by 2030 and 50 percent by 2040, Roque said the Philippines presents a favorable environment for Masdar's growth and expansion.

The meeting with Masdar is part of Roque's official visit to the UAE, where she is actively promoting investment opportunities in the Philippines across various sectors.

Related Tags

Department of Trade and Industry Ma. Cristina A. Roque DTI Secretary Masdar Philippines

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