AboitizPower has signed a preliminary agreement with South Korea's Korea Hydro & Nuclear Power Co., Ltd. (KHNP) to study the feasibility of nuclear energy projects in the Philippines. The announcement was made in a statement on Wednesday, as reported by BusinessWorld
AboitizPower, the country's largest private power producer, said the study will help evaluate the potential role of nuclear power in its long-term generation portfolio. The move comes as the Philippines explores cleaner energy sources to address rising electricity demand and reduce dependence on fossil fuels.
Under the preliminary agreement, the two companies will assess technical, economic, and regulatory aspects of deploying nuclear power in the country. KHNP, a subsidiary of Korea Electric Power Corporation, operates South Korea's nuclear plants and brings expertise that could support the Philippines' energy diversification efforts.