Aboitiz Power Corp. continues to talk to US nuclear firm Ultra Safe Nuclear Corp. for the development of micro modular reactors in the Philippines, a top executive said Thursday.
Aboitiz Power president Emmanuel Rubio said the talks were at exploratory stage, but they planned to sign a non-disclosure agreement with Ultra Safe to continue nuclear power discussions.
“Ultra Safe is micro modular reactors, small about 5 to 7 megawatts, probably perfect for micro grids,” Rubio said at the sidelines of the Asian Conference on Climate Change and Disaster Resilience at the Asian Institute of Management in Makati City.
Rubio said nuclear should always be an option for the country as it is an “economically feasible solution that’s not emitting carbon dioxide.”
Rubio confirmed that the Philippines should put in place a lot of factors before the country could have a nuclear facility, including agreements and governing laws.
“Safety standards are already in place. We just have to revisit whether those safety standards are updated. Government has to have a role in encouraging nuclear as an option,” he said.
Meanwhile, Rubio said energy security and energy infrastructure resilience are crucial in developing nations like the Philippines for economic growth, poverty reduction, national security and sustainable development.
Rubio said energy security and energy infrastructure resilience also have challenges such as the vulnerability of energy systems to natural disasters.
“The Philippines is no stranger to the wrath of typhoons, earthquakes, and floods. These calamities can wreak havoc on our power grids, disrupting energy supply and leaving communities in darkness when they need it most,” he said.
Another challenge is the country’s overreliance on imported energy resources, particularly coal and oil which expose the Philippines to global market fluctuations and geopolitical risks.
“The impact of the global situation on the Philippines is most evident in the realm of finance and economy, presenting challenges to our country’s recovery from the pandemic and affecting the public’s quality of life with increased costs of goods and fuel,” Rubio said.