Korea Hydro & Nuclear Power is studying the possibility of building a 100-megawatt modular nuclear reactor at Cagayan Economic Zone Authority in Sta. Ana, Cagayan, the Energy Department said Wednesday.
Energy Secretary Alfonso Cusi, Undersecretary Donato Marcos and assistant secretary Gerard Erguiza Jr. met with KHNP president and chief executive Chung Jae Hoon and other executives in Korea Tuesday.
“During the discussions, DOE and KHNP explored energy cooperation endeavors, including the possibility of conducting a feasibility study on the establishment of a small, 100-MW modular reactor in the Cagayan Economic Zone Authority,” the department said in a statement.
Cusi is pushing for nuclear energy as a part of the country’s power mix. He also advocated for the use of small-scale nuclear capacity.
The department already submitted the proposed nuclear policy to Malacañang. The Philippines mothballed its only nuclear power plant, the 620-MW Bataan nuclear power plant, in 1986 on safety concerns.
Cusi, who joined Duterte in his state visit to Korea, said he also received letters of intent from several Korean companies for possible investments in the country’s energy sector during the Philippines-Korea Business Forum and Luncheon hosted by the Korean Business Community for Duterte.
The letters of intent included those from Korean firms SK Engineering & Construction, Sy Enc Co. Ltd., BKS Energy Industry Ltd. and SK E&S.
SK Engineering & Construction submitted a proposal for a coal-fired power plant, while Sy Enc Co., a renewable energy firm, submitted a proposal for wind power generation and BKS Energy. submitted a proposal for solar power generation.
SK E&S proposed a liquefied natural gas terminal hub in the Philippines.
State-run Korea Electric Power Corp. is one of the biggest Korean investors in the Philippine energy sector. It operates the 1,200-MW Ilijan natural gas power plant in Batangas and owns a majority stake in a 200-MW coal-fired power plant in Cebu.