Aboitiz Power Corp. (AboitizPower) is taking further steps towards nuclear power development and diversifying its portfolio. The company’s president and CEO, Emmanuel Rubio, announced plans to sign a nondisclosure agreement with Ultra Safe Nuclear Corp., a US-based developer. AboitizPower is already in early discussions with Ultra Safe Nuclear Corp., which is also partnered with Prime Infrastructure Capital Inc., owned by tycoon Enrique Razon Jr.
Development of nuclear power will not begin until the next decade due to the lengthy licensing process. Rubio stated that he doesn’t believe a single private sector entity will be able to develop nuclear power without government participation. He anticipates that nuclear power could be seriously considered as an option by 2030. Ultra Safe Nuclear Corp., established in 2011, specializes in micro modular reactors and other nuclear power technologies for space exploration. The company plans to deploy its projects in the United States, Canada, and Europe.
Manila Electric Co. (Meralco) has also signed a nondisclosure agreement with Ultra Safe Nuclear Corp. for its potential involvement in nuclear development, as previously disclosed by Meralco chair Manuel Pangilinan. Additionally, AboitizPower is in talks with NuScale Power LLC to pursue alternative sources of power and reduce carbon emissions, such as co-firing ammonia on coal plants and hydrogen on liquefied natural gas facilities.
Nuclear power is currently not a part of the Philippine energy mix, as the Bataan Nuclear Power Plant was never loaded with fuel after its completion in the 1980s. Despite concerns from private sector developers about safety standards in nuclear development, Rubio remains optimistic and believes nuclear power should always be an option for the country.
President Marcos also expressed interest in exploring nuclear energy and small modular reactors (SMRs) as viable options for low or zero-carbon energy sources during the recent Asia-Pacific Economic Cooperation Business Advisory Council in Cebu City.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
Denial of responsibility! Samachar Central is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
