Masdar enters Philippines renewables market with 1-GW deal

ABU DHABI, January 17, 2025 – UAE state-owned renewable energy company Masdar has signed agreements with the government of the Philippines to develop 1 GW of renewable energy projects, the company announced on Thursday.

Under an implementation agreement with the Department of Energy and an MoU with the Board of Investments of the Republic of the Philippines, both signed on the sidelines of Abu Dhabi Sustainability Week 2025, Masdar will develop solar, wind and battery storage systems for a total capacity of up to 1 GW by 2030.

“This announcement is a significant expansion of Masdar’s activities in Southeast Asia, a key strategic market in our ongoing efforts to achieve a renewable energy capacity of 100 GW by 2030,” said Mohamed Jameel Al Ramahi, Masdar’s CEO.

Masdar’s activities in the renewables sector in Southeast Asia include the development of the 145-MW Cirata Floating Solar PV plant and a 2023 investment in Pertamina Geothermal Energy in Indonesia, and an agreement with the Malaysian Investment Development Authority to develop 10 GW of renewable energy projects across the country.

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