Philippines pursues interest of US nuclear firms

MANILA, Philippines — Following President Marcos’ meeting with two nuclear power firms during his US visit, Trade Secretary Alfredo Pascual said the companies’ interest in investing in the Philippines may materialize through supply order arrangements or the setting up of manufacturing facilities in the country.

Marcos and the Philippine delagation, including Pascual, met with representatives from US-based NuScale Power Corp. and Ultra Safe Nuclear Corp.

NuScale is engaged in developing small modular reactor technologies, while Ultra Safe is involved in micro modular reactors.

“There are two potential things that could happen. One is we can order from them (two companies) the supply of the reactor – either the small modular reactor or the micro modular reactor,” Pascual told reporters in a virtual briefing.

Pascual said another possibility is for the two companies to set up manufacturing facilities in the country.

“So there are two potential business models or business arrangements that we’re working on, that we’re targeting,” Pascual said.

He said the business model or arrangement would depend on the companies partnerships with the country’s business sector, since running businesses is not a function of the government.

“What the government officials are doing is really pointing them to certain directions and providing them certain incentives so they will decide one way and not the other,” Pascual said.

For Ultra Safe, Pascual said the company claimed that the technology is not as sensitive to geological movements, meaning it can be used in areas in the country with volcanic activity.

In contrast, NuScale’s technology is sensitive to volcanic or geological movements, according to Pascual.

“They have a map of areas in the Philippines that can be considered safe locations, but there is no actual decision yet on which province or which area, which town they will build it if they proceed to build it,” he added.

In a meeting with President Marcos and the Philippine delegation, NuScale said it is planning to conduct a study to locate a site in the Philippines, according to a news statement by the Presidential Communications Office (PCO).

Similarly, in a meeting in Washington, Ultra Safe CEO Francesco Venneri expressed the company’s interest to bring clean and reliable nuclear energy to the Philippines.

The comapany said it is seriously considering the Philippines for its first nuclear energy facility in Southeast Asia. It also vowed to help address the series of blackouts that hit several areas of the country, according to a news statement by the PCO.