Power retailer Manila Electric Co., in partnership with US-based Ultra Safe Nuclear Corp. (USNC), plans to proceed with the full feasibility study on nuclear power this year, company executives said.
This is part of Meralco’s overall target to put up a nuclear facility as proof-of-concept.
“Our goal is to be able to start an operational plant perhaps in one of the island provinces to produce power and demonstrate that it’s a safe mode of producing power. So we hope to do that certainly well before 2028,” Meralco chairman Manuel Pangilinan said.
Meralco executive vice president and chief operating officer Ronnie Aperocho said the results of the pre-feasibility study were presented to the company, and Pangilinan agreed to proceed to the formal feasibility study.
The full feasibility study will cover site-specific assessment and detailed analysis of local and regulatory landscapes crucial to the deployment of nuclear technologies.
“On the formal feasibility study, we will need to deep dive more on the financial safety and other very important parameters as well as on the site-specific study like where do we install this micro modular reactors,” Aperocho said.
Meralco and USNC completed the prefeasibility study within the Meralco franchise area for the possible deployment of micro modular reactor (MMR) and fully ceramic micro-encapsulated (FCM) nuclear fuel technologies.
Aperocho said Meralco would work with the policymakers, especially the Department of Energy, on the study that would take six months.
“We’re very transparent about the studies that we’re doing and they’re part of the next steps, especially on the site selection… We’re just negotiating on the cost. But technically, we’re progressing already,” he said.
Pangilinan said that after the study, there would “probably be a buyer-seller kind of a relationship which is fine with us.”
“What’s important is that given the circumstances around this nuclear in this country that it is important that we start today with a fairly modest proof-of-concept plan, and they’re prepared to do that, whatever the size might be, 5, 10 megawatts and located in a safe place,” Pangilinan said.
Pangilinan said Meralco would train nuclear engineers to help grow the industry.