Photo courtesy of US Navy
The Philippines is exploring financing and technical support from the United States to attract nuclear power investments as the government moves to diversify the country's energy mix and strengthen long-term power supply.
The Energy Regulatory Commission (ERC) said Monday night that Philippine energy officials and private-sector representatives met with major US financing institutions and nuclear regulators to assess investment opportunities and requirements for bringing advanced nuclear technologies into the country.
Among the institutions involved were the Export-Import Bank of the United States and the US International Development Finance Corp., which discussed potential financing arrangements for nuclear energy projects.
The engagements could open investment opportunities for Filipino power companies, although financing, regulatory approvals, and technical readiness remain major hurdles.
The discussions took place during the Advanced Civil Nuclear Energy Reverse Trade Mission held from 10 to 18 October in Idaho Falls, Idaho, and Washington, D.C.
The Philippine delegation was led by Energy Secretary Sharon Garin and included ERC Chairperson Francis Saturnino Juan, Energy Undersecretary Giovanni Carlo Bacordo, and Energy Utilization Management Bureau Director Patrick Aquino.
Representatives from AboitizPower, GNPower, Maharlika Investment Corp., Manila Electric Co., and Meralco PowerGen Corp. also joined the mission.
Organized by the US Trade and Development Agency, the mission explored financing, technical assistance, and regulatory cooperation under the Philippines-US Agreement for Cooperation Concerning Peaceful Uses of Nuclear Energy, or the 123 Agreement.
“The visit provided insights into emerging nuclear technologies, including small modular reactors and microreactors, as well as the technical and institutional preparations necessary for their potential deployment,” the ERC said.
At the Idaho National Laboratory, Philippine officials studied advanced reactor technologies, nuclear fuel capabilities, regulatory research, and workforce development.
They also met with the US Nuclear Regulatory Commission, US Department of Energy, and Nuclear Energy Institute to assess the regulatory and technical preparations needed for nuclear power development.
However, the ERC stressed that attracting investments alone would not be enough to establish a viable nuclear energy industry.
The regulator cited the need for stronger regulatory oversight, institutional capacity, site and grid assessments, and sustainable financing before projects could proceed.
Particular attention was given to strengthening the Philippine Atomic Energy Regulatory Authority, which is expected to oversee nuclear safety and licensing requirements.
The ERC said regulatory preparedness, institutional coordination, and consumer protection would remain critical as the country pursues nuclear energy development.
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