Meralco gets $2.7 million US grant for study on nuclear development

MANILA, Philippines — Pangilinan-led Manila Electric Co. (Meralco) is powering its bold nuclear energy push with a $2.7-million financial boost from the United States Trade and Development Agency (USTDA).

“We will be receiving a grant from USTDA,” Meralco executive vice president and COO Ronnie Aperocho said yesterday on the sidelines of an energy forum organized by the American Chamber of Commerce of the Philippines.

Aperocho said the grant is expected to support Meralco’s ongoing feasibility study on the adoption of small modular nuclear reactors in the Philippines.

Under its current roadmap, the Philippines aims to have commercially operational power plants by 2032, with at least 1,200 megawatts entering the energy mix.

Although the nuclear safety law is not in place yet, Aperocho said Meralco has already signed a lot of potential partnerships and made notable investments in training Filipino engineers.

The country’s largest power utility, for instance, earlier inked a two-year cooperation agreement with French power giant Electricité de France SA to explore nuclear energy and pursue potential investments.

Meralco also sent the first batch of its scholars to partner institutions abroad to participate in a two-year nuclear program.

Despite these initiatives, Meralco’s nuclear ambitions, along with those of the industry, remain hanging in the balance without a law to firmly support them.

In a previous interview, Aperocho said continued delays in the passage of the PhilATOM bill could result in a “major backlog” in achieving the government’s nuclear targets.

PhilATOM pertains to the proposed Philippine Atomic Energy Regulatory Authority, which will assume all regulatory tasks currently managed by the Philippine Nuclear Research Institute.

In June, Congress ratified the proposed bill, which is set to be transmitted to President Marcos for signature.