Aboitiz Power taps Korea to explore nuclear-tech potential in Philippines

The deal covers joint pre-feasibility studies, information sharing, and capacity-building.

Aboitiz Power has teamed up with Korea Hydro & Nuclear Power (KHNP) to explore cooperation on nuclear energy technologies and their potential applicability in the Philippines.

Both parties signed a memorandum of understanding (MOU) at KHNP headquarters in Gyeongju, South Korea, on 31 July, with executives from both companies and the Philippines' Department of Energy (DOE) and National Power Corporation in attendance.

The non-binding agreement will cover joint pre-feasibility studies, information sharing, and capacity-building, drawing on KHNP's experience constructing and operating nuclear power plants in South Korea and overseas.

The agreement will help Aboitiz Power assess nuclear energy's potential role in the Philippine power sector, whilst allowing it to draw on KHNP's extensive nuclear expertise.

“Nuclear energy is complex and highly regulated, and any future role for it must be grounded in rigorous technical assessment and strong regulatory oversight,” said Carlos Ramon Aboitiz, Chief Corporate Services Officer of Aboitiz Power.

DOE Secretary Sharon Garin said that the transition requires “strong public-private coordination and the exchange of best practices across borders with experienced industry leaders.”