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President Ferdinand Marcos Jr. on Friday said the government is working on all legal requirements for the planned nuclear energy investment in the Philippines by American firm Ultra Safe Nuclear Corp. .
The agreement involves a pre-feasibility study to introduce Micro Modular Reactor systems to Meralco and explore their potential in the Philippines. Based on the findings, Meralco may pursue a detailed feasibility study for MMR energy system adoption and deployment.The Agreement for Cooperation Concerning Peaceful Uses of Nuclear Energy, or the 123 Agreement, was signed by the Philippine and US governments on Nov. 16, 2023, in San Francisco, California.
“And while many island communities are served by fuel-fired power generation facilities, they oftentimes endure rotational brownouts and suffer from expensive power rates. The MMR promises to offer a viable solution to these challenges,” he added. He noted that on November 22, 2023, the House of Representatives approved House Bill 9293, or the “Philippine National Nuclear Energy Safety Act.” Last March 4, the House also approved HB 9876 or the “Philippine Nuclear Liability Act.”The Meralco-USNC cooperative agreement will facilitate a comprehensive pre-feasibility study to assess the potential for deploying MMRs in the Philippines.
The initiative aims not only to enhance supply chain resilience but also to reinforce the enduring US commitment to mobilizing private sector investment in the Philippines.
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