Meralco seeks financing for nuclear energy feasibility study in the Philippines

The Manila Electric Company (Meralco) is seeking support from the Government of the United States to finance a feasibility study for the development of nuclear energy, primarily small modular reactors (SMRs), in the Philippines.

In line with this, the utility company has applied for a grant with the United States Trade and Development Agency (USTDA). When compared to conventional and large-scale nuclear facilities, SMRs which have capacity between 50 MW to 300 MW, are faster to build and can be installed in off-grid locations. Considering this, these are a better option for the Philippines instead of traditional nuclear power plants. Additionally, negotiations are ongoing between the Government of the Philippines and the US on a civil nuclear cooperation agreement. The agreement will allow the import of US-developed nuclear equipment and material.