Manila: Amidst the drive to ramp up foreign direct investments in strategic industries, the Philippines has invited the UAE’s Masdar to explore opportunities in the country’s renewable energy sector.
Abu Dhabi-based Masdar, founded in 2006, is at the forefront of UAE’s green energy push around the world. In the Asean, the company targets to develop 2GW renewable energy capacity by 2025.
Masdar was one of the global investors invited by the Philippines’s Department of Trade and Industry (DTI) to explore emerging sectors in the country.
Cristina A. Roque, Secretary of the Philippine Department of Trade and Industry (DTI), recently held meetings with Masdar executives from the United Arab Emirates (UAE).
Sustainable energy
During Secretary Roque’s visit to the UAE, she said they look forward to working with Masdar in advancing solar, wind and geothermal initiatives — seen as critical to the country’s energy securing and sustainability aspirations.
Secretary Roque emphasised the government’s commitment to supporting businesses of all sizes through initiatives focused on financing, digitalisation, and market access.
'Green Lane' projects
The landmark Executive Order No. 18 (EO 18), issued by the Office of the President on February 23, 2023, encourages strategic investments through "green lanes", especially those devoted to clean energy, green metals, electronics, aerospace, electric vehicles, defence related projects, pharmaceuticals, specialty hospitals, LNG storage and regasification, PPP infrastructure projects, new products and technologies.
“We welcome Masdar’s vision to invest in the Philippines, which is in perfect sync with the vision of President Marcos Jr. It is the aim of the DTI and the Philippine Government to promote projects with sustainable energy which will generate economic activity for the benefit of and the protection of the environment,” Secretary Roque said in a statement.
Coal accounted for 61.92 per cent of all electricity generated in the Philippines in 2023, from 59.07 per cent in 2022, the highest jump in dependence on the fossil fuel since 2016, according the latest official data.
Masdar has been delivering renewable energy projects in the UAE and around the world, helping the global drive to enhance climate resilience.
Key Masdar projects
Masdar has developed a number of landmark wind farms currently in operation around the world, including the 400 MW Dumat Al Jandal wind farm, the largest in the Middle East and the first in Saudi Arabia, the 630 MW London Array offshore wind project in the United Kingdom and the 103.5 MW UAE Wind Program
Masdar has developed a number of landmark renewable projects, notably wind farms currently in operation around the world: the 400 MW Dumat Al Jandal wind farm, the largest in the Middle East and the first in Saudi Arabia, the 630 MW London Array offshore wind project in the UK, the 103.5 MW UAE Wind Program.
62 %
per centage of electricity generated in the Philippines in 2023Masdar has also developed the 1,100MW Al Henakiyah Solar PV Project in Saudi Arabia, the 600kW PV Plant in Marshall Islands, the 17,564MW/hour Masdar City Solar Photovoltaic Plant, the 350 kW solar PV carport with EV charger stations in Barbados, the 500kW Solar PV & Water Protection in Kiribati, the 500kW Rooftop Solar PV in Tuvalu and Oman’s Dhofar Wind Project, which saves 110,000 tonnes of CO2 emissions annually.
• The CEPA, once finalised, will be the Philippines' first trade agreement with a Middle Eastern country and a member of the Gulf Cooperation Council (GCC).
• It is expected to significantly enhance trade in goods and services, streamline cross-border investments, and foster economic collaboration.
• The Philippines and the UAE aim to conclude formal talks this year, which also marks 50 years of diplomatic ties between the two countries.
UAE visit
Roque officially took over as Secretary of the DTI in August, replacing former DTI Secretary Fred Pascual, who served the agency for two years.
During her recent visit to Dubai, she Roque explored opportunities for Filipino brands in leading supermarkets like Al Maya and Carrefour.
The trade chief also visited the SariSari Store, a convenience mart showcasing diverse Filipino products, highlighting the quality and craftsmanship of Filipino goods.
The initiative aligns with President Marcos Jr.'s goal of bringing Filipino products abroad, boosting our economy and sharing our unique cultural heritage with the world.
• The Green Lane is managed by the Board of Investments (BOI) under the Department of Trade and Industry (DTI).
• Priority projects: These are defined as projects that are aligned with the government’s priorities and contribute significantly to economic growth, job creation, and sustainable development. Investments that fall under this category will be eligible for the expedited processing.
• Participating agencies: The Green Lane involves various government agencies and local government units (LGUs) that are required to coordinate and streamline their processes to reduce bureaucratic delays. This includes the Department of Environment and Natural Resources (DENR), the Department of Energy (DOE), and others.
• Expedited timelines: This is the most important aspect of the Green Lane drive. The EO sets specific deadlines for the approval of permits and licenses. If agencies fail to act within these timeframes, the applications may be deemed automatically approved, subject to certain conditions.
