Meralco-USNC ink agreement to study nuclear energy options for PH

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Metro Manila (CNN Philippines, November 16) — Local power franchise distributor Meralco and Ultra Safe Nuclear Corp (USNC) have signed an agreement to explore clean and sustainable energy options in the country.

The signed agreement between both parties was presented to President Ferdinand Marcos Jr. on Thursday (PH time) on the sidelines of the Asia Pacific Economic Cooperation Summit, according to the Presidential Communications Office.

Marcos said it was a "significant step towards exploring clean and sustainable energy options for the Philippines."

The president previously said that he wants to explore more renewable energy sources for the country as well as consider whether to use nuclear energy.

In May, NuScale Power Corporation, a leading nuclear energy firm based in the United States expressed interest in investing in the country to address the shortfall in power supply.

Speaking on the agreement, Meralco chairman and CEO Manuel V. Pangilinan said it showed the company's commitment to explore "diverse energy sources" to benefit the country.

In a statement, the company said that under the deal, USNC will conduct a four month pre-feasibility study so that Meralco could become familiar with Micro-Modular Reactors (MMR) and how these can be used in the country, and help Meralco decide on future activities and development in specific areas.

"The study will assess financial, technical, safety, and siting, among other considerations," said the statement, adding that Meralco is leading the push to integrate nuclear power in the country's energy portfolio

USNC CEO and founder Francesco Venneri lauded Meralco, saying it showed leadership to advance energy security and sustainability for the country.