Maharlika, energy firms seek UAE investments

State-run Maharlika Investment Corp. and some of the country's energy companies joined the Philippine delegation to the United Arab Emirates (UAE) to secure clean energy investments.

- BRIX LELIS

The business delegation consisted of ACEN Corp., Aboitiz Power Corp., Citicore Renewable Energy Corp., San Miguel Global Power Holdings and Amber Kinetics.

The Department of Energy (DOE) said yesterday that the Philippine companies held meetings with UAE's Masdar, Emirates Nuclear Energy Corp. (ENEC) and the International Renewable Energy Agency on Oct. 15 and 16.

The delegation also met with UAE Minister of Energy and Infrastructure Suhail Mohamed Faraj AI Mazrouei to negotiate and finalize a memorandum of cooperation on energy transition between the two countries.

"This initiative highlights the Philippines' commitment to energy diplomacy in its pursuit of energy security and sustainable development," the DOE said.