Manila Electric Co. (Meralco) is seeking new foreign partners for nuclear power projects after its agreement with U.S.-based Ultra Safe Nuclear Corp. (USNC) stalled, a senior executive said.
Meralco and USNC signed a cooperation agreement in November 2023 to explore the potential deployment of USNC’s Micro-Modular Reactor (MMR) and Small Modular Reactor (SMR) technology in the Philippines.
“Ultra Safe Nuclear had a bit of a financial challenge, so our partnership didn’t progress. Now we’re looking for partners for SMR [small modular reactors]. We’re talking to a lot of people,” Meralco chief operating officer Ronnie Aperocho told reporters on the sidelines of an event focused on nuclear workforce development.
He said USNC faced financial difficulties and failed to secure a necessary regulatory permit. USNC filed for bankruptcy in the US last year.
“First-of-a-kind power plants are critical. It’s our requirement that before we allow them to be installed here, the country of origin must first run it for two years without an accident, unless our President waives such a pilot, observation stage,” Aperocho said.
The USNC study was intended to assist Meralco in assessing the feasibility of deploying MMR technology, including financial, technical, safety, and site considerations.
Aperocho said Meralco is now in discussions with other foreign companies and aims to finalize a new agreement this year.
He also welcomed memoranda of understanding signed by EōS Organization, Fulbright Philippines, Mindanao State University-Iligan Institute of Technology (MSU-IIT), and Valar Atomics, supporting the Philippine Nuclear Research Institute (PNRI), to develop the country’s nuclear workforce.
“This MOU is very much aligned with our development strategy at Meralco, so we have been sending scholars already. It’s better that we have this local training program for our future nuclear engineers or technicians. Meralco could provide employment for these students,” Aperocho said.
“At the end of the day, you can train them, but if there are no projects still in the Philippines, how could you employ them? We noticed that some of our best nuclear engineering scholars are working abroad,” he said.