PH, UAE energy project deals start January
By Ed Paolo Salting – December 2, 2024
from The Manila Times
THE Department of Energy (DOE) on Sunday said the Philippines had signed a memorandum of understanding (MOU) with the United Arab Emirates (UAE) to collaborate on renewable energy and other projects starting January 2025.
Energy Secretary Raphael P.M. Lotilla confirmed the signing, following President Ferdinand Marcos Jr.’s meeting with UAE President Mohammed bin Zayed Al Nahyan on Nov. 26.
“The terms of this agreement were previously discussed with UAE Minister of Energy and Infrastructure Suhail Mohamed Faraj Al Mazrouei during our meeting in Abu Dhabi last month,” Lotilla said.
“Our dialogue emphasized fostering meaningful business collaborations and positioning the Philippines as a prime destination for Emirati investments in critical energy sectors, including developing robust energy infrastructure and advancing renewable energy projects. To operationalize this MOU, an implementation agreement with a UAE state-owned company is expected by January next year,” Lotilla added.
The MOU identifies possible partnerships in renewable energy; liquefied natural gas as a transition fuel; power generation, transmission and distribution systems; nuclear energy; energy efficiency and conservation; and alternative fuels and emerging technologies.
“At its core, this partnership reflects the mutual recognition that energy lies at the heart of development. By combining the UAE’s leadership in innovative energy solutions with the Philippines’ ambitious drive for energy security and sustainability, this has the potential to transform not only industries but also the lives of millions of Filipinos,” Lotilla explained.
“By attracting investments in energy infrastructure, the partnership will generate new jobs, enhance local expertise through technology transfer and capacity building, and support the development of a robust energy ecosystem. The focus on these five areas will ensure that these advancements benefit all sectors of society, contributing to a more equitable distribution of resources and opportunities,” he added.
