Philippines Signs MOU with UAE for Renewable and Nuclear Energy Collaboration

The Philippines has signed a memorandum of understanding (MOU) with the United Arab Emirates (UAE) to work together on renewable and nuclear energy. An agreement will be finalized with a UAE state-owned company in January 2025.

The Department of Energy (DOE) announced that the MOU covers several areas, including renewable energy, liquefied natural gas, power generation and transmission, energy efficiency, conservation, and alternative fuels.

This MOU was part of the agreements made during President Ferdinand “Bongbong” Marcos Jr.’s visit to the UAE last month, where he met with President Mohamed bin Zayed Al Nahyan.

Discussions included collaborations in business and promoting the Philippines as an investment destination for Emirati investors. The DOE emphasized that this partnership could enhance both countries’ energy sectors and improve the lives of many Filipinos.

Energy Secretary Raphael Lotilla stated that the Philippines needs about $500 billion in investments to achieve its clean energy goals. The country aims to increase the share of renewable energy in its power mix to 35% by 2030 and to 50% by 2050.

This partnership can create jobs, improve local skills, and develop a strong energy industry in the Philippines.