Manila Electric Co. (Meralco) is actively searching for new partners to develop small nuclear power plants in the Philippines after its discussions with Ultra Safe Nuclear Corp. (USNC) stalled due to the latter’s financial difficulties.
According to Meralco Executive Vice President and COO Ronnie Aperocho, several foreign companies have expressed interest in collaborating on micro modular nuclear power plants. However, he emphasized that progress in nuclear energy development in the country remains limited due to the lack of an institutionalized framework.
USNC, a Seattle-based firm specializing in micro modular reactors, filed for Chapter 11 bankruptcy in October 2023, impacting its operations and ongoing projects, including its partnership with Meralco. The two companies had previously signed a cooperative agreement to explore the feasibility of deploying small modular reactors (SMRs) in the Philippines.
SMRs, which can generate up to 300 megawatts of electricity per unit, are seen as a potential solution to enhance energy security and provide a steady power supply, particularly in remote areas. The Marcos administration has been pushing for the inclusion of nuclear energy in the country’s power mix to reduce reliance on fossil fuels.
Despite the challenges, Aperocho remains hopeful that a new partnership for SMR development could materialize this year. However, he reiterated that any progress depends on the passage of a legal framework for nuclear energy in the Philippines.