News Release

Meralco, USNC to undertake pre-feasibility Study on nuclear energy system in PH to explore clean, sustainable energy options

The Manila Electric Co. (Meralco) and the Ultra Safe Nuclear Cooperation (USNC) embarked on Wednesday on a cooperation agreement to undertake a Pre-Feasibility Study on Micro-Modular Reactors (MMRs) to explore clean and sustainable energy options in the country.

Meralco and USNC presented their signed agreement to President Ferdinand R. Marcos Jr. at the Ritz Carlton Hotel in San Francisco on the sidelines of his participation to the Asia Pacific Economic Cooperation Summit.

President Marcos lauded the agreement saying the “partnership is a significant step towards exploring clean and sustainable energy options for the Philippines.”

He said the agreement “is aligned with our commitment to reduce greenhouse gas emissions and increase resilience to climate change.”

In his first SONA, the President directed the Department of Energy (DOE) and National Economic and Development Authority (NEDA) to explore the possibility of developing small-scale modular nuclear power plants, subject to compliance with international safety standards and regulations.

Under the agreement between Meralco and USNC, they will conduct a feasibility study for the potential deployment of Micro Modular Reactors in Meralco sites aimed at enforcing the sustainable energy agenda and to provide affordable and dependable access to power, particularly to the underserved and off-grid areas for economic empowerment.

The study will enable Meralco to obtain an estimate of the environmental and social impact, capital expenditure, and operational costs, among others, related to the siting, construction, and operation of one or more MMR energy systems in the Philippines.

The officials present were USNC Founder and CEO Francesco Venneri, USNC EVP for Global Strategy Roland Backhaus, former president and chairman of the US Export-Import Bank and former US Executive Director to the Asian Development Bank Ambassador John Bohn, Vesticom CEO Ramon Cruz, Meralco EVP and COO Ronnie Aperocho, Meralco EVP and COO Dominic Camu Jr., Pilipinas Global Network Ltd President and CEO Ernesto Santa Maria and Metro Pacific Investment Corp. head of Government Relations and Public Affairs Atty. Mike Toledo. PND