Meralco gains new nuclear partner with French firm
Manila Electric Co. (Meralco) of tycoon Manuel V. Pangilinan has sealed a fresh nuclear alliance with a French state-owned utility group.
This new collaboration with Electricité de France SA (EDF) came just a few weeks after a Meralco executive disclosed that their deal with US-based Ultra Safe Nuclear Corp. (USNC) got stalled due to the latter’s financial woes and regulatory delays.
The power giant, which has been aggressive with its nuclear targets, said its two-year partnership with EDF would focus on possibly deploying the technology in the local market.
The parties will conduct a feasibility study on potential site activities, power system integration, and the economic viability of nuclear power. Training sessions on nuclear reactor technology and nuclear project management are also covered in the pact.
“We see this cooperation as a significant first step for Meralco, and we are committed to taking a leadership role in advancing nuclear energy in the Philippines,” Pangilinan, its chair and chief executive, was quoted as saying in a statement over the weekend.
“We look forward to deepening our collaboration with France in this crucial area,” he added.
The billionaire said complementing the current power mix with nuclear could help the Philippines “achieve greater energy security.”
Commitement
To further push for the realization of nuclear energy in the market, both parties have committed to exploring funding opportunities, including from the French government.
“Through this important first step—and the opportunity to engage in meaningful discussions with you—we hope to make real progress at your site as well. This is the beginning of what we envision as a remarkable, long-term journey, one that could span the next hundred years,” EDF senior vice president for International Nuclear Development Vakisasai Ramany said.
Earlier, Pangilinan said they were targeting to make Meralco’s nuclear plants operational by 2028. However, the technology may not be ready until late 2030.
President Marcos wants to have the country’s first nuclear power plants, or an initial capacity of 1,200 megawatts, up and running by 2032.
