Masdar Enters the Philippines with a 1 Gigawatt Renewable Energy Deal

The United Arab Emirates-based clean energy firm Masdar has signed a $15 billion landmark deal [1] with the Philippines to develop up to 1 gigawatt (GW) of renewable energy projects by 2030. This agreement, signed during the Abu Dhabi Sustainability Week 2025, aims to support the Philippines’ goal of increasing the share of renewable energy in its power mix to 35% by 2030 and 50% by 2040.

The deal, which was witnessed by 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 Philippines, includes the development of solar, wind, and battery energy storage systems (BESS). The project is expected to scale up to 10 GW by 2035, with an estimated total investment of $15 billion.

The partnership between Masdar and the Philippines is part of the country’s National Renewable Energy Program, which aims to reduce its reliance on fossil fuels and enhance energy security. The Department of Energy (DOE) will assist Masdar in conducting pre-development activities, securing land rights, and obtaining necessary approvals and permits. Masdar will lead the project development, overseeing commercial, technical, financial, and environmental aspects.

“This partnership marks a transformative step in our renewable energy journey,” said Philippine Energy Secretary Raphael Lotilla. “By leveraging Masdar’s expertise 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.”

Masdar’s CEO, Mohamed Jameel Al Ramahi, emphasized the significance of this expansion into the Southeast Asian market. “With our proven success in implementing large-scale renewable energy projects in the region and worldwide, we look forward to utilizing our expertise and experience to support the Philippines in meeting its ambitious energy goals,” he said.

The collaboration is expected to deliver significant economic benefits to the Philippines, including job creation, technology transfer, and the development of advanced skills in clean energy. The DOE will also facilitate Masdar’s applications for investment incentives and tax exemptions.

“This partnership sets a new benchmark for energy transition in the region,” Lotilla added. “It underscores the Philippines’ commitment to a clean energy future and positions the country as a regional leader in sustainable energy.”

Sources: 

[1] Masdar enters the Philippines with 1 gigawatt renewable energy deal   https://www.thenationalnews.com/business/energy/2025/01/16/masdar-enters-the-philippines-with-1-gigawatt-renewable-energy-deal/

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