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Manila Bulletin devider Philippines devider National devider PH signs renewable energy deals with UAE firm

PH signs renewable energy deals with UAE firm

Published Jan 19, 2025 06:38 am

The Philippines has signed two agreements with a renewable energy company in the United Arab Emirates (UAE) to further the country's renewable energy projects and investments.

DFA-UAE agreements.jpg
Philippine Ambassador to the UAE Alfonso Ver (2nd from left) with DOE Undersecretary Rowena Cristina L. Guevara (3rd from left), DTI Undersecretary and BOI Managing Head Ceferino S. Rodolfo (4th from left), and Masdar CEO Mohamed Jameel Al Ramahi (4th from right) at the agreement signing. (Photo courtesy of Abu Dhabi Philippine Embassy)

During the Abu Dhabi Sustainability Week (ADSW) 2025 held from Jan. 12 to 18, the Department of Energy (DOE) and by the Board of Investments (BOI) with Abu Dhabi’s Masdar will facilitate renewable energy projects in the Philippines using solar (ground mounted, rooftop, floating), wind (onshore and offshore) and battery storage systems.

Philippine Ambassador to the UAE Alfonso Ver said the signing of the two agreements was a milestone in the growing bilateral relations between the Philippines and the UAE.

“The agreements signed today with Masdar stand as a testament to the strong relations of the Philippines with the UAE and will contribute to the Philippines advancing its renewable energy agenda,” Ver said.

“We look forward to the partnership with the UAE in renewable energy initiatives as it will push sustainable development and will have significant economic impacts,” he added.

According to the Department of Foreign Affairs (DFA), the agreement on renewable energy sets the stage for developing up to one gigawatt (GW) of solar, wind and battery energy storage systems (BESS) across various regions in the Philippines by 2030, aiming to scale up to 10 GW within a decade, with an estimated total investment of $15 billion.

The agreement operationalizes the memorandum of understanding (MOU) on Energy Transition Cooperation signed between the Philippines and the UAE in November 2024 during the visit of President Marcos.

Another agreement signed at the ADSW 2025 was the MOU between the Philippines' BOI and the UAE’s Masdar on collaboration on potential areas for investments. It is expected to pave the way for discussion on potential areas of collaboration for Masdar to invest in renewable energy projects in the Philippines.

The agreements marked UAE’s Masdar entry into the renewable sector in the Philippines, considering that Southeast Asia is a key investment destination for Masdar.

The company has developed the region’s largest floating solar facility in Indonesia, the 145 MW Cirata Floating Solar PV Plant, which generates 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 10 GW of clean energy projects across the country.

The ADSW is a leading global platform supported by the UAE to discuss initiatives, facilitate knowledge sharing and collective action for sustainable development.

Related Tags

United Arab Emirates DFA Masdar Abu Dhabi
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