Manila Electric Company (Meralco) has secured a deal with Samsung C&T Corporation to explore nuclear energy projects and support the Philippine government’s long-term objectives on energy security.
Meralco Executive Vice President Ronnie L. Aperocho and Samsung C&T President Jungwook Kim formalized the partnership by signing a memorandum of understanding during The Philippines-Korea Business Forum on October 7. As outlined in the document, the two companies will enter discussions on the technical design, regulatory frameworks, and grid infrastructure that are necessary for implementing nuclear technology.
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Aperocho said that this would enhance the knowledge of Meralco on nuclear energy and align the decision making of the company with international best practices. The company’s chairman and CEO, Manuel Pangilinan, described the collaboration with the South Korean conglomerate’s construction and engineering arm as a strategic move for integrating nuclear energy into the power supply mix in the Philippines.
The Philippine government is targeting a 1200-megawatt capacity from operational nuclear power plants by 2032, with plans to expand to 2400 megawatts by 2040. On October 8, the Department of Energy and Korea Hydro & Nuclear Power agreed to a no-cost feasibility study for rehabilitating the mothballed Bataan Nuclear Power Plant.