Masdar has entered the Philippines market by signing key agreements to develop 1 gigawatt (GW) of clean energy projects. This expansion is a significant step in Masdar’s broader growth strategy across Southeast Asia.

An implementation agreement with the Department of Energy and a memorandum of understanding (MoU) with the Board of Investments are also part of the agreements. These partnerships focus on developing solar, wind, and battery energy storage systems (BESS) in the Philippines.

Also read: Masdar Acquires Majority Stake in TERNA ENERGY, Boosting European Renewable Energy Expansion

Government Collaboration

The signing ceremony was attended by key officials, including HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology. Raphael P M Lotilla, Secretary of Energy of the Philippines, was also present. Masdar’s CEO, Mohamed Jameel Al Ramahi, and Undersecretary Dr. Rowena Cristina L. Guevara from the Philippine Department of Energy signed the Implementation Agreement. The MoU was exchanged between Alfonso Ferdinand A. Ver, the Ambassador of the Philippines to the UAE, and Al Ramahi.

This agreement supports the Philippines’ Energy Transition Program. The program aims to generate 35% renewable energy by 2030 and 50% by 2040. The partnership builds on the MoU on Energy Transition Cooperation. The MoU was signed in November last year during Philippine President Ferdinand R Marcos Jr’s visit to the UAE.

Expanding Footprint, Future Outlook

The entry of Masdar in the Philippines is part of its expansion strategy. The company is targeting to expand its renewable energy portfolio across Southeast Asia. Efforts to expand its portfolio are already underway, including establishing Indonesia’s largest floating solar facility.

Masdar also invested in Pertamina Geothermal Energy in 2023 and signed an agreement for 10GW of clean energy projects in Malaysia.

Since its establishment in 2006, Masdar has been highly instrumental in the sustainability agenda of the UAE. The company seeks to reach 100GW renewable capacity by 2030 and emerge as a global leader in the production of green hydrogen. To date, Masdar has delivered projects in over 40 countries and targets 1 million tonnes of green hydrogen annually by 2030.

NXP Semiconductors N.V. announced a partnership with the European Investment Bank, which signed a €1 billion loan with the company as a basis to strengthen RDI across its portfolio of semiconductor solutions. The six-year loan, with a similar interest rate of approximately 4.75% for dollar-denominated tranches under current market conditions, will support projects in facilities located in Austria, France, Germany, the Netherlands, and Romania between now and 2026.

Driving Strategic Technologies with EIB Support

Such financing aligns with the recently launched “Strategic Tech-EU” program, aiming to accelerate digitalization and innovation in such critical technologies as artificial intelligence, microchips, life sciences, and quantum computing. Semiconductors are crucial for the digitalization of industries, for decarbonization, and to support efforts toward sustainability.

Robert de Groot, Vice President of the EIB, said, “Luckily, the EU boasts some of the world’s most advanced chip makers. As semiconductors are key to the digital and green transitions, their importance will only grow, and the EIB proudly supports such strategic technology.”

He added, “It is also consistent with our investment in the ESMC joint venture fab currently being built in Germany, which will address Europe’s automotive and industrial chip requirements.”

Advancing Next-Generation Semiconductor Solutions

NXP’s European R&D teams are focusing on cutting edge semiconductor technologies, including automotive processors, advanced radar solutions, energy systems, in vehicle networking, and secure car access. Additionally, they are developing intelligent edge technologies like artificial intelligence, secure identification, NFC wallets for mobile devices, and wearables aimed at improving quality of life and advancing sustainability.

Also read: EIB and EMT Valencia Partner to Expand Zero-Emissions Bus Fleet

Supporting the EU’s Semiconductor Strategy

The investment aligns with key EU initiatives such as the EU Chips Act, the Dutch Semicon Valley, and the Netherlands’ National Technology Strategy. These efforts aim to fortify the European semiconductor market, ensuring a secure and competitive chip supply. In addition to developing innovative power electronics, microprocessors, and microcontrollers, NXP will focus on improving the energy efficiency of its devices.