The Philippines has partnered with UAE’s Masdar, signing a $15 billion deal to develop renewable energy projects, including solar, wind, and battery energy storage systems (BESS), with a capacity of up to 1 gigawatt (GW) by 2030. This initiative aligns with the Philippines’ goal to reduce reliance on fossil fuels and expand clean energy’s share in its power mix to 35% by 2030.
By 2035, the partnership aims to scale up to 10 GW, advancing the Philippines’ energy transition program. This expansion reflects the Philippines’ strategy to attract international investment, supported by its policy of full foreign ownership in the renewable energy sector. With this deal, the Philippines reinforces its position as a leader in renewable energy in the region, signaling its commitment to a greener, more sustainable future.
