DUBAI, UAE — The Department of Trade and Industry (DTI) is in talks with UAE-based renewable energy leader Masdar to explore potential investments in the Philippines’ clean energy sector.
In a meeting held in Dubai, DTI Secretary Cristina A. Roque emphasized the Philippines’ growing appeal as an investment hub for renewable energy in Asia. Masdar, which was established in 2006 as part of the UAE’s commitment to clean energy leadership, is aiming to develop up to 2 gigawatts (GW) of renewable energy capacity across the ASEAN region by 2025.
“The Philippines is rapidly emerging as a key player in the Asian renewable energy market,” said Roque. “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.”
Masdar is currently evaluating opportunities to partner with the Philippines on various clean energy initiatives, particularly in solar, wind, and geothermal power. The talks align with the country’s National Renewable Energy Program (NREP), which aims to increase the renewable energy share to 35% by 2030 and 50% by 2040.
According to Roque, the Philippines’ stable economic climate and supportive regulatory framework make it an attractive destination for international investors like Masdar.
“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,” she added. “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’s meeting with Masdar was part of her official visit to the UAE, where she is engaging with key stakeholders to promote investment opportunities in various sectors.
Attracting investments in renewable energy is a cornerstone of the Philippine government’s efforts to achieve energy self-reliance and combat climate change.