Meralco, South Korea firm to explore options on nuclear energy development

MANILA, Philippines — Manila Electric Co. (Meralco), chaired by tycoon Manuel V. Pangilinan, has partnered with South Korea’s Doosan Enerbility Co. Ltd. to develop low-carbon power projects, including nuclear energy.

The companies recently signed a memorandum of understanding to engage in strategic collaborations and accelerate the development of generation projects in the Philippines.

Under the agreement, Meralco and Doosan will explore the potential deployment of nuclear power facilities in the country, including the rehabilitation of the Bataan Nuclear Power Plant (BNPP).

The companies also plan to conduct a study on the use of small modular reactors to help ensure energy security amid growing power demand.

“It has always been Meralco’s commitment to proactively support the Philippine government’s thrust to achieve energy security, which is crucial to our national development,” Pangilinan said.

This partnership also fits well with Meralco’s goal of exploring “innovative energy solutions that we can adopt as we work toward ensuring availability of sufficient, affordable and reliable power to meet our country’s long-term goals,” he also said.

To help reduce carbon emissions, Meralco and Doosan are expected to work hand in hand on the possible deployment of greenhouse gas reduction equipment such as ammonia co-firing technology.

The deal also includes the potential construction and supply of gas turbines for combined cycle power projects of Meralco’s subsidiaries, with Doosan serving as the engineering, procurement and construction contractor for these projects.

“By working together on transformative projects, this collaboration will contribute to the modernization of the country’s energy infrastructure and help ensure a stable and long-term supply of clean, reliable power,” Doosan vice chairman Yeonin Jung said.

This partnership came after the Philippines and South Korea signed an agreement to conduct a feasibility study on the revival of the BNPP.

The study, set to commence in January 2025, is expected to help the Philippines assess the feasibility, safety and sustainability of various nuclear energy options.

South Korea will shoulder the costs associated with the study, while the Philippines will have no legal obligation to pursue the BNPP rehabilitation or to engage Korea Hydro & Nuclear Power Co. Ltd. based on the study’s results.