NUCLEAR ENERGY. President Ferdinand R. Marcos Jr. (4th from left) holds a meeting with Ultra Safe Nuclear Corp.’s (USNC) top executives in Washington DC, the United States on Friday (April 12, 2024, Manila time). During the meeting, Marcos and the USNC executives discussed the progress in the firm’s planned nuclear energy investment in the Philippines. (Photo courtesy of the Presidential Communications Office)
MANILA – President Ferdinand R. Marcos Jr. on Friday (Manila time) hailed the developments in the planned nuclear energy investment of Washington-based Ultra Safe Nuclear Corp. (USNC) in the Philippines.
Marcos met with USNC’s top executives, led by its chief executive officer Francesco Venmeri, in the United States (US) to discuss the progress in the firm’s commitment to bring a reliable and clean energy source to the Philippines.
“We are delighted to share the progress of our ongoing collaboration with Ultra Safe Nuclear Corp. since our inaugural meeting in 2023. Their investment in Micro Modular Reactors (MMRs) promises a reliable and clean energy solution for the country,” Marcos said in a Facebook post after his meeting with USNC officials.
“This initiative ensures greater energy security, reduced reliance on fossil fuels, and holds the promise of substantial economic gains for the Filipino people.”
During the meeting with USNC executives, Energy Secretary Rafael Lotilla briefed Marcos about the ongoing legislative measures in Congress that would provide the legal framework for the company’s planned investment and operation in the Philippines.
Lotilla told Marcos that the regulatory framework has been passed by the House of Representatives.
On Nov. 22, 2023, the House approved House Bill 9293, or the “Philippine National Nuclear Energy Safety Act, ” and last March 4, it also approved HB 9876 or the “Philippine Nuclear Liability Act.”
Marcos expressed hope that the bill gets passed in the Senate so that the necessary legal requirements could be completed soon to commence the project.
“You’re done already in the House. Okay. So, the elements that need to be there, the provisions that need to be (included), we can do in the Senate and then there’s one of course, is the bicam down the road. So, that would be the process from the government side,” the President said during the meeting.
“We spoke about this before. We’re going to go ahead with the program, with (the) project.”
Marcos’ meeting with USNC officials is a follow-up of their initial meeting in the US in May 2023, followed by the signing of the memorandum of understanding (MOU) on nuclear cooperation in Nov. 2023, and the firm’s participation in the US Presidential Trade and Investment Mission to the Philippines in March 2024.
The USNC is a global leader and vertical integrator of nuclear technologies and services. Its major initiatives include the MMR, Fully Ceramic Micro-encapsulated (FCM) nuclear fuel, and nuclear power and propulsion technologies for space exploration.
The MMR is a fourth-generation nuclear energy system that delivers safe, zero-carbon, cost-effective electricity and heat to utilities, industry, and remote communities.
This will be USNC’s first investment in the country and it partnered with Meralco for an MMR study.
The agreement was presented to Marcos in Nov. 2023 on the sidelines of his participation in the Asia-Pacific Economic Cooperation summit in San Francisco.
Under the MOU, the USNC will conduct a pre-feasibility study that will run for four months to familiarize Meralco with the MMR system to ensure its effective use in the Philippines.
Depending on the results of the pre-feasibility study, Meralco has the option to conduct a more detailed feasibility study with focus on the adoption and deployment of MMR energy systems.
The Philippine and the US governments also signed the Agreement for Cooperation Concerning Peaceful Uses of Nuclear Energy or the 123 Agreement in November last year. (PNA)
