MANILA, Philippines — Manila Electric Co. (Meralco), chaired by tycoon Manuel V. Pangilinan, has partnered with South Korea’s leading conglomerate Samsung Group to advance nuclear energy development in the Philippines.
Meralco and Samsung C&T Corp. Engineering & Construction (Samsung C&T) signed a memorandum of understanding (MOU) during the recent state visit of South Korean President Yoon Suk Yeol in Manila.
Both companies agreed to discuss the technical design and capabilities of nuclear technology as well as the prevailing regulatory framework, energy landscape and necessary grid infrastructure.
The parties will likewise explore other opportunities for nuclear power development, including the potential deployment of a pilot demonstration project.
Pangilinan said the strategic deal has further strengthened Meralco’s commitment to fueling the government’s efforts to integrate nuclear energy in the country’s power generation 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,” Pangilinan said.
Under the Philippine Energy Plan, the country wants to have an initial 1,200 megawatts of nuclear capacity by 2032 and expand this to 2,400 MW by 2035 and 4,800 by 2050.
With the execution of this MOU, Samsung C&T also intends to actively engage in the construction of large nuclear power plants and small modular reactor projects.
“This aligns well with Meralco’s continuous efforts to work with global knowledge and technology partners to help us in our transition toward more diversified and sustainable energy sources,” Meralco executive vice president and COO Ronnie Aperocho said.
Earlier, Meralco announced that it signed an MOU with another South Korean company, Doosan Enerbility Co. Ltd., for the development of low-carbon power projects, including nuclear energy.
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.
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.