MANILA Electric Co. (Meralco) and South Korea’s Samsung C&T Corporation Engineering & Construction Group have entered into a partnership to advance the adoption of nuclear energy projects in the Philippines, supporting the government’s long-term goals for energy security.
Under the memorandum of understanding (MoU), the two companies will discuss the technical design and capabilities of nuclear technology, as well as the prevailing regulatory framework, energy landscape, and necessary grid infrastructure, Meralco said in a statement on Monday.
“Through this MoU, Meralco stands to gain a comprehensive understanding of the critical aspects of nuclear energy development that will ensure that our future decisions are well-informed and aligned with international best practices,” said Ronnie L. Aperocho, Meralco’s executive vice-president and chief operating officer.
“This aligns well with Meralco’s continuous efforts to work with global knowledge and technology partners to help us in our transition towards more diversified and sustainable energy sources,” he added.
With the execution of the agreement, Samsung C&T plans to actively engage in the construction of large nuclear power plant projects and small modular reactor projects in the Philippines, Meralco said.
Manuel V. Pangilinan, chairman and chief executive officer of Meralco, said that the company’s collaboration with Samsung C&T is a “strategic move that cements its commitment” to contributing to the government’s efforts to integrate nuclear energy into the power supply mix.
“As we collectively work on the safe and secure adoption of this next-generation technology, we remain focused on our ultimate goal of ensuring energy security and achieving sustainable and inclusive growth in the Philippines,” Mr. Pangilinan said.
The government aims to have commercially operational nuclear power plants with a capacity of at least 1,200 megawatts (MW) by 2032 and 2,400 MW by 2040.
Meralco’s partnership with Samsung C&T follows the recent announcement of collaboration between the Philippines and South Korea to conduct a feasibility study on the revival of the mothballed Bataan Nuclear Power Plant (BNPP).
Last week, the company said it has also inked an MoU with Doosan Enerbility Co., Ltd., another South Korean firm, to explore collaborations on developing low-carbon energy projects in the Philippines, including the rehabilitation of the BNPP.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
