DTI, UAE firm Masdar eye renewable energy partnership

The Department of Trade and Industry (DTI) is exploring a potential partnership with Masdar, a global renewable energy company from the UAE, to invest in and develop the Philippines' renewable energy sector.

DTI Secretary Cristina A. Roque met with Masdar executives to discuss collaborations and investments in the country's clean energy infrastructure, highlighting the Philippines' growing appeal for such investments in Asia.

Masdar, established by the UAE government, aims to develop up to 2 gigawatts of renewable energy capacity in the ASEAN region by 2025.

Secretary Roque expressed the Philippines' readiness to partner with Masdar to accelerate the development of solar, wind, and geothermal projects, which are crucial for the nation's sustainability and energy security.

The Philippines' National Renewable Energy Program targets increasing the renewable energy share to 35 percent by 2030 and 50 percent by 2040, creating a favorable environment for Masdar's expansion.