Phill News Entertainment – Phill News
MANILA, Philippines – The Philippines and South Korea have signed a memorandum of understanding to conduct a feasibility study for the Bataan Nuclear Power Plant (BNPP).
The memorandum was signed on Monday, October 7, between the Department of Energy and Korea Hydro and Nuclear Power Co. Ltd. It was signed during South Korean President Yoon Seok-you’s visit to Malacañang Palace (tel:
). The purpose of the study is to continue the rehabilitation of the 40-year-old defunct plant as well as explore the possibility of other nuclear technologies and alternative power plants. Development of nuclear energy.
In his speech, President Ferdinand Marcos Jr. said, “We will conduct a thorough feasibility study to further the rehabilitation of the BNPP. We believe it will contribute to the energy security of the country.”
In February 2023, Korea Hydro and Nuclear Power Co. Ltd. The Philippines, and South Korea released a feasibility study suggesting it would take an estimated five years for Bataan to begin commercial operations.
In addition to the memorandum of understanding, the Philippines and South Korea also signed six agreements on various sectors during their bilateral meeting at Malacañang Palace.
These agreements concern economic cooperation, maritime security, tourism, and infrastructure.
Bataan Nuclear Power Plant
The Bataan Nuclear Power Plant was built in response to the oil crises of the 1970s that forced the Philippines to ration fuel.
Construction of the plant began in July 1976 and was completed in 1984. It cost $1.9 billion, according to the World Nuclear Association.
However, due to financial reasons and safety concerns associated with earthquakes, former President Corazon Aquino decided not to supply fuel or operate the plant.
As electricity prices increased from 2014 to 2016, the Department of Energy has been considering the possibility of restarting the plant with assistance from South Korea, which is seeking to develop new nuclear power plants using small modular reactor technology.
In 2023, the government agency released an updated priority list indicating its plans to explore integrating nuclear energy into the energy mix by developing small modular reactor technology.
