Power retailer Manila Electric Co. (Meralco) and South Korea’s Samsung C&T Corporation Engineering & Construction (Samsung C&T) Group signed a memorandum of understanding (MOU) to advance the adoption of nuclear energy projects in the Philippines.
This followed Meralco’s MOU with another South Korean firm Doosan Enerbility Co. Ltd. last week to explore strategic collaborations on developing low-carbon energy projects in the Philippines including nuclear power.
“Our collaboration with Samsung C&T is a strategic move that cements our commitment to take an active role in contributing to the Philippine government’s efforts to integrate nuclear energy in the country’s future power supply mix. As we collectively work on the safe and secure adoption of this next generation technology, we remain focused to our ultimate goal of ensuring energy security and achieving sustainable and inclusive growth in the Philippines,” Meralco chairman and chief executive Manuel Pangilinan said.
Meralco executive vice president and chief operating officer Ronnie Aperocho said that under the MOU, the power retailer would gain a comprehensive understanding of the critical aspects of nuclear energy development to ensure that its future decisions are well-informed and aligned with international best practices.
“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,” Aperocho said.
Aperocho and Samsung C&T president for global operations Jungwook Kim led the ceremonial signing of the agreement on the sidelines of The Philippines-Korea Business Forum in Manila, which forms part of the recent state visit of South Korean President Yoon Suk Yeo recently.
Under the MOU, Meralco and Samsung C&T will share and discuss technical design and capabilities of nuclear technology and the prevailing regulatory framework, energy landscape and necessary grid infrastructure. The two companies will also explore the potential roll-out of a pilot demonstration project and other opportunities for nuclear power plant development.
Samsung C&T is engaged in the business and has expertise as an international construction company, with strong nuclear energy know-how and unwavering commitment.
Samsung C&T plans to actively engage on construction of large nuclear power plants projects and small modular reactor (SMR) projects in Philippines with the execution of the MOU.
The partnership comes as the Philippines and South Korea agreed to conduct a feasibility study on the revival of the Bataan Nuclear Power Plant.
As the largest electric distribution utility in the Philippines and a major player in the energy industry, Meralco is at the forefront of the private sector push to develop nuclear energy. The company has since partnered with international institutions to explore safe adoption of nuclear technologies in the country.
Meralco is also pursuing the development of Philippines’ technical and regulatory talent pipeline, which it actively pursues through initiatives on knowledge sharing, capability-building and formal education in the highly specialized field of nuclear engineering.
Meralco is sending Filipino scholars to nuclear engineering institutions in the United States and China this year.
