Manila Electric Co. (Meralco) is on the lookout for new nuclear technology partners after its memorandum of understanding (MOU) with US-based Ultra Safe Nuclear Corporation (USNC) expired on October 5, 2024, without renewal.
Meralco disclosed to the stock exchange that it is currently in discussions with various technology suppliers to evaluate nuclear options, including small modular reactors (SMRs) and conventional nuclear power technologies.
Meralco Chief Operating Officer Ronnie Aperocho confirmed the development, citing financial troubles on the part of USNC as the reason for the stalled partnership.
“Now we’re looking for partners for SMR, and we are talking with a lot of possible partners. But at the end of the day, that could only progress once the law is passed in the Philippines,” Aperocho said.
The legal landscape remains a significant hurdle for nuclear energy in the Philippines. Current regulations require that any nuclear technology installed in the country must have operated for at least two years without incident in its country of origin.
Meralco and USNC initially signed a cooperative agreement in 2023 to study the feasibility of deploying micro modular reactor (MMR) energy systems in the Philippines. However, with USNC facing financial difficulties and filing for bankruptcy last year, the collaboration has come to a halt.
Despite this setback, Meralco remains committed to exploring nuclear options as part of its long-term strategy for sustainable and reliable energy. “We are talking with a lot of possible partners,” Aperocho reiterated, highlighting the company’s proactive stance on future nuclear collaborations.
As the global push for cleaner and more sustainable energy intensifies, the outcome of Meralco’s search for new nuclear partners could play a pivotal role in shaping the future of the Philippines’ energy landscape.
What are your thoughts on the future of nuclear energy in the Philippines? Should the country move forward with small modular reactors? Share your opinions below and join the conversation.
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