Tag: Korea Hydro and Nuclear Power Corp. (KHNP)

Meralco Signs MOU With Korean Entities For Philippines Nuclear Power Project Development

Meralco Signs MOU With Korean Entities For Philippines Nuclear Power Project Development

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Another step towards a nuclear-powered Philippines happened as the energy giant Meralco signed a memorandum of understanding (MOU) with Export-Import Bank of Korea (KEXIM) and Korea Hydro & Nuclear Power (KHNP) for a strategic partnership on the development of nuclear energy projects in the country, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

MANILA ELECTRIC CO. (Meralco) has signed a memorandum of understanding (MoU) with Korea Hydro & Nuclear Power (KHNP) and the Export-Import Bank of Korea (KEXIM) to collaborate on the development of nuclear energy projects in the Philippines.

The partnership aims to leverage South Korean expertise to evaluate the feasibility of nuclear power through a multi-faceted approach.

Under the agreement, the three organizations will conduct joint discussions on reactor design and engineering, exchange technical and regulatory information, and work to “strengthen the Philippines’ nuclear legal and institutional frameworks.”

The scope of the MoU also covers early-stage project development, including “public acceptance initiatives, project planning, and site selection studies.”

The companies will focus on business and financial modeling, with KEXIM specifically exploring “potential financing structures and credit facilities” for Meralco’s prospective projects.

Meralco Chairman and Chief Executive Officer Manuel V. Pangilinan highlighted the strategic importance of the collaboration, saying “Partnering with KHNP and KEXIM gives us access to proven global expertise and enables us to study technology, business models, and financing options with greater depth. This MoU marks an early but consequential step in this important process.”

He also said that nuclear energy is a critical component of the company’s long-term strategy to ensure energy security.

“Nuclear energy is a way to diversify our portfolio and reinforce energy security, while offering a degree of insulation from fuel market fluctuations,” he said.

He added that Meralco’s initiative is “complementary to the Philippine government’s efforts to lay the groundwork for its nuclear power program” as the utility provider assesses how the technology can best contribute to its future operations.

KHNP, a subsidiary of Korea Electric Power Corp., is currently the largest power generation company in South Korea, while KEXIM serves as the nation’s state-owned official export credit agency.

Meralco is the country’s biggest private electric distribution utility, serving 39 cities and 72 municipalities. It also has interests in power generation through wholly owned units and equity stakes.

Let me end this post by asking you readers: What is your reaction to this recent development? Now that the MOU has been signed, do you feel more confident about the future of a nuclear-powered Philippines? Do you think new nuclear power facilities in the country will be realized in your lifetime?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

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DOE eyes 1,200-MW nuclear power capacity with SMR technologies in the Philippines by 2032

DOE eyes 1,200-MW nuclear power capacity with SMR technologies in the Philippines by 2032

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The path will be long and challenging for the Philippines to become a nuclear-powered nation but the Department of Energy (DOE) remains determined on achieving that goal by the year 2032 with the use of small modular reactor (SMR) technologies that could generate an initial 1,200 megawatts, according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Department of Energy (DOE) top and senior officials said the agency is targeting to get a 1,200-megawatt installed power capacity from nuclear resources using small modular reactor (SMR) technologies by 2032.

This was confirmed by DOE Secretary Raphael Lotilla as well as Undersecretaries Rowena Cristina Guevara and Sharon Garin to reporters in an interview in Taguig City on Thursday.

Lotilla said the government remains open to all technologies that will supply the growing power demand of the country in the coming years.

“(T)he commercial rollout of certain nuclear technologies are going to be there… (W)e can start planning for 2032 at the earliest. From the figures, you can see these are modest figures, 1,200 (MW) by 2032,” the DOE chief.

In her speech at the B2B Matching to Support Energy Transition (B2B SET), Guevara said this potential capacity would come from eight 150-MW SMRs.

She added that under the DOE’s Clean Energy Scenario (CES) 1, the 1,200 MW potential installed capacity for nuclear by 2032 is forecast to have additional 1,200 MW capacity by 2035 and another 2,400 MW by 2050.

Manila Electric Company has partnered with American firm Ultra Safe Nuclear Corp. (USNC) to explore the potential of micro-modular reactors in the country.

AboitizPower Corp. is also exploring collaborations with NuScale Power Corp. and USNC in this sector.

Aside from the latest SMR technologies, Garin said the country is studying the viability of conventional nuclear reactors like the existing Bataan Nuclear Power Plant (BNPP).

Garin said the DOE is in talks with the Korea Hydro and Nuclear Power Co., Ltd. (KHNP) for a more comprehensive feasibility study for the BNPP.

She added that the feasibility study with KHNP will determine if the government should pursue BNPP as a nuclear energy source in the future.

She said around 12 sites, mostly in the western parts of the country, are being studied for future locations of nuclear power facilities.

Safety first – Meanwhile, Lotilla stressed that the government will ensure that the safety concerns on nuclear energy technologies will be addressed first before putting up nuclear power plants.

Let me end this piece by asking you readers: What is your reaction about this recent development? Do you think the both the government and the private sector can make breakthroughs happen to pave the way for a nuclear-powered Philippines? Are there many people in your local community who are still afraid of nuclear energy because of what they saw in movies or TV shows that showed nuclear disasters?  

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco