Meralco eyes nuclear option with South Korea’s Doosan
Energy giant Manila Electric Co. (Meralco) has firmed up efforts to explore opportunities in the nuclear energy space as it tapped a South Korean company to launch several initiatives, including looking into the possible revival of the Bataan Nuclear Power Plant (BNPP).
The power distributor, which is also engaged in electricity generation through subsidiaries, sealed a deal with Doosan Enerbility Co. Ltd., highlighting its interest anew in leading the planned development of nuclear energy in the Philippines.
In a statement on Wednesday, Meralco said its partnership with Doosan would involve the possibility of establishing nuclear power facilities in the Philippines.
This would also include a study on “the rehabilitation of the BNPP,” the company said, the results of which would be forwarded to the government.
The announcement came just two days after the Philippines and South Korea had inked an agreement to pursue a feasibility study about the mothballed facility.
Meralco previously made known its desire to participate should the Marcos administration decide that the BNPP can still be switched on.
Built during the first Marcos administration, the facility was hounded by controversies related to corruption and safety fears.
Meralco’s pact with Doosan also involves the study of the use of small modular reactors.
Meralco said pushing for these initiatives could “help meet the country’s growing power demand and achieve long-term energy security.”
“Partnering with reputable and dependable companies like Doosan aligns well with our pursuit to continuously explore innovative energy solutions that we can adopt as we work towards ensuring the availability of sufficient, affordable and reliable power to meet our country’s long-term goals,” Meralco chair and chief executive officer Manuel V. Pangilinan said.
Pangilinan had expressed hopes of firing up his nuclear dream in “eight to 10 years,” albeit a little delayed from his 2028 initial goal.
This, as developing small modular reactors “turned out to be more difficult than anticipated.”
Meanwhile, Meralco and Doosan also agreed to collaborate on the possible deployment of greenhouse gas reduction equipment—such as ammonia co-firing technology—for aging thermal power plants.
The team-up would likewise delve into the development and supply of gas turbines for combined cycle power projects of Meralco’s subsidiaries.
If the partnership materializes, the South Korean firm will bag the engineering, procurement, and construction contract for these Meralco projects.
