The Department of Trade and Industry (DTI) met with top executives of Masdar, a leading global renewable energy company, to discuss potential collaborations and investments in the Philippines’ renewable energy sector.
DTI Secretary Cristina Roque’s highlighted the Philippines growing attractiveness as a destination for clean energy investment in Asia during an official visit to the UAE.
“The Philippines is rapidly emerging as a key player in the Asian renewable energy market. We are delighted to partner with Masdar to accelerate the development of solar, wind, and geothermal projects, which are vital to achieving our sustainability and energy security goals,” she said.
Masdar, established in 2006 by the UAE government, aims to develop up to 2 gigawatts of renewable energy capacity in the ASEAN region by 2025. It is actively exploring partnership opportunities in the Philippines’ renewable energy projects.
The Philippine delegation showcased the Philippines’ National Renewable Energy Program (NREP), giving the RE company an excellent opportunity for growth and expansion in the region.
The NREP aims to increase the country’s renewable energy share to 35 percent by 2030 and 50 percent by 2040.
“We welcome Masdar’s vision to invest in the Philippines as it aligns perfectly with the vision of President Marcos Jr. for a greener future. The DTI and the Philippine government are committed to supporting sustainable energy initiatives that will not only drive economic growth but also ensure a greener future for our nation,” Roque said.
