The Philippines has secured a landmark $15 billion partnership with UAE-based renewable energy company Masdar. The agreement aims to develop a series of renewable energy projects, including solar, wind, and battery energy storage systems (BESS), with a combined capacity of up to 1 gigawatt (GW) by 2030.
This deal is a key step in the Philippines’ effort to transition away from fossil fuels and meet its renewable energy target of 35% of the country’s total energy mix by the end of the decade. The collaboration reflects both nations’ commitment to addressing climate change and advancing sustainable energy solutions.
Masdar, a global leader in renewable energy, will play a central role in the development and implementation of these projects. The investment aligns with the Philippines’ broader strategy to diversify its energy sources and reduce its dependence on imported coal and natural gas.
By 2030, the initiative is expected to significantly contribute to the country’s energy transition, helping to drive clean energy adoption and create new economic opportunities in the renewable sector.
| Picture by Masdar on Wikipedia |
