United Arab Emirates state energy firm Masdar has signed a $15 billion renewable energy deal with the Philippines to develop solar, wind and battery energy storage systems, providing it with up to 1 gigawatt of clean power by 2030.

Masdar, the United Arab Emirates' clean energy provider, has announced its entry into the Philippines renewables market, with agreements to develop 1GW of clean energy projects.

Emirati state-owned developer Masdar has entered the Philippines market with plans to develop 1GW of solar PV, wind and BESS.

UAE state-owned renewable energy firm Masdar announced on Tuesday plans to create a new solar and battery energy facility that will deliver 1 gigawatt of uninterrupted clean power and is expected to cost around $6 billion.

This makes the company on track to its 100 GW goal by 2030. Masdar has reported a total renewable energy capacity of 51 gigawatts (GW) by the end of 2024, a 150% increase from 20 GW in 2022. In a statement,

Emirati state-owned company Masdar has formalized its investment plans worth USD15 billion in the Philippines’ renewable energy (RE) sector by signing an Implementation Agreement with the Department of Energy (DOE).

The agreements—an Implementation Agreement with the Department of Energy and a Memorandum of Understanding (MoU) with the Board of Investments—were signed in the presence of UAE Minister of Industry and Advanced Technology and Masdar Chairman Dr.

United Arab Emirates state energy firm Masdar has signed a $15 billion renewable energy deal with the Philippines to develop solar, wind and battery energy storage systems, providing it with up to 1 gigawatt of clean power by 2030.

Abu Dhabi Future Energy Company, also known as Masdar, has made its first major foray into the Philippines’ renewables market, with the has signed a $15bn deal to develop solar, wind, and battery energy storage systems.