Aboitiz taps Korean giant for nuclear energy 

Aboitiz Power Corp., one of the country’s major industry players, is taking a fresh look at nuclear technology after sealing a pact with a South Korean energy giant to explore its potential in the Philippine market.

The group—previously lukewarm toward nuclear power—flew to South Korea to ink a memorandum of understanding (MOU) with Korea Hydro & Nuclear Power Co., Ltd. (KHNP) last week.

Unlike Manila Electric Co., Aboitiz Power was earlier cautious about approaching nuclear talks amid uncertainties surrounding this push from President Marcos.

But the group indicated a change of heart as the government has ramped up policy directions for the realization of nuclear power. The Department of Energy (DOE), however, is seeing the first kilowatts from nuclear to be produced only by 2035, a little delayed from the initial 2032 target.

Top Aboitiz Power officials led the signing, including its president and CEO Danel Aboitiz and chief corporate services officer Carlos Ramon Aboitiz. DOE Secretary Sharon Garin was also present.

The parties agreed to launch prefeasibility studies, information sharing and capacity-building activities related to nuclear technologies.

“This MOU marks a meaningful step in AboitizPower’s efforts to understand nuclear energy’s potential contribution to the Philippines’ energy security and reliable baseload capacity,” Carlos said in a statement on Wednesday.

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Complex undertaking

“Nuclear energy is complex and highly regulated, and any future role for it must be grounded in rigorous technical assessment and strong regulatory oversight. We see significant value in learning from KHNP’s decades of experience,” he added.

KHNP is the biggest power firm in South Korea, delivering about 32 percent of the total generated electricity in the country. It has a massive portfolio, even including some renewable energy assets. Its nuclear capacity totals 26,050 megawatts.

“Building on KHNP’s extensive experience and technical expertise gained through construction and operation of nuclear power plants both in Korea and overseas, we look forward to working closely with AboitizPower to support the Philippines’ energy transition,” said Choi Il-kyung, KHNP senior executive vice president for business development and management division.