MASDAR, a global leader in renewable energy based in the United Arab Emirates (UAE), is exploring potential collaborations and investments in the Philippines’ renewable energy.
The Department of Trade and Industry (DTI) said in a statement Secretary Cristina Roque recently met with top executives of Masdar as part of her official visit.
Roque said Masdar is actively exploring partnership opportunities in the Philippines to invest in renewable energy projects, with a focus on solar, wind, and geothermal power.
She added a partnership with Masdar will accelerate the development of projects in these energy sources which are vital to achieving the country’s sustainability and energy security goals.
During the meeting, Roque shared about the Philippines’ National Renewable Energy Program which aims to boost the country’s renewable energy share to 35 percent by 2030 and 50 percent by 2040.
Masdar is one of the world’s fastest growing renewable energy companies and a green hydrogen leader.
As a pioneer in advancing the clean energy sector and a key enabler of the UAE’s vision as a global leader in sustainability and climate action, Masdar has developed projects in more than 40 countries across six continents and has invested, or committed to invest, in worldwide projects with a combined value of more than $30 billion.