The Aboitiz Group on Friday said private-public partnerships will reduce risks and drive the growth of of new technologies including nuclear energy in the country.
“We understand that the adoption of advanced technologies like SMRs [small modular reactors] is not without its challenges…This is where the importance of private-public partnerships comes into play,” Aboitiz Group chief executive Sabin Aboitiz said during the APEC Business Advisory Council forum.
“Private sector innovation and capital, coupled with public sector regulatory support and risk management, can drive the growth of nuclear energy,” Aboitiz said.
He said governments can create enabling policies such as regulatory streamlining, transition financing, loan guarantees, and market-based incentives that promote nuclear energy and SMRs.
Aboitiz said businesses can provide technical expertise and ensure project delivery on time and on budget.
“In our path towards sustainability, nuclear energy, particularly through small modular reactors, offers a compelling path forward. SMRs are more flexible, less capital intensive, and can be deployed in a wider range of locations than traditional nuclear power plants. They can be crucial components of a balanced, zero-carbon energy portfolio,” he said.
The company has already started talks with three companies for the possibility of putting up SMR in the Philippines.
“The role of nuclear energy will be pivotal in this journey. It calls for shared learning, private-public partnerships, and an imaginative exploration of new technologies and what they can do,” the executive said.
Energy Secretary Raphael Lotilla said the Department of Energy aims to complete the nuclear roadmap this year.
“For nuclear, the deliverables of all the efforts shall form part of the finalization of our road map for completion this year,” Lotilla said in the same forum.
He said DOE is committed to work towards a sustainable future through a technology approach, which involves diversification of energy sources to include nuclear power.
“We remain steadfast in taking in calculated and scientific approach, and tapping nuclear energy is a long-term fuel option for power generation, given its technical and economic viability. In developing nuclear power for application, we continue to implement plans and programs to satisfy the competency requirements based on the milestone approach of the International Atomic Energy Agency,” the energy chief said.
Meanwhile, Aboitiz said co-firing coal with hydrogen or ammonia can reduce carbon emissions, and in the long term could even replace coal.
“The production of ‘green’ hydrogen and ammonia needs to become more cost-effective and scalable. Power plants also need to be retrofitted or designed to use these fuels, and we must handle safety issues associated with their use responsibly,” he said.
Lotilla said that due to the ongoing interest in the co-firing of ammonia with existing coal-fired power plants, DOE forged a partnership with the Department of Science and Technology for the establishment of a fuel cell research and development and testing facility.
He said DOE is actively considering hydrogen and its derivatives, as a promising and cleaner alternative energy as outlined in the Philippine Energy Plan 2020 – 2040.
Lotilla said the DOE is also developing a policy framework and guidelines for the integration of hydrogen within the energy sector.