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

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.

BAKU, Azerbaijan, January 17. Masdar, the UAE’s clean energy leader, has signed agreements with the Philippines government to develop up to 1 GW of renewable energy projects by 2030, Trend reports. This marks Masdar’s official entry into the Philippines and reinforces its growing presence in Southeast Asia.

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,

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.

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.

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.

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 clean energy company Masdar has signed agreements to develop renewable energy projects with a capacity of 1 gigawatts in the Philippines, marking its entry into the South-East Asian country.