Officials of a top nuclear energy firm based in the United States (US) on Monday, May 1 (US time), disclosed plans to invest in the Philippines after a meeting with President Ferdinand Marcos Jr. in Washington D.C.
Philippine officials' meeting with executives of United States-based NuScale Power Corp. (Photo from the Presidential Communications Office)
A statement from the Presidential Communications Office (PCO) said that Oregon-based NuScale Power Corp. was planning to find a site in the country.
NuScale is known for developing a small nuclear power system, described as safe, modular, and scalable.
According to the PCO, the NuScale Power Corp. is expected to invest $6.5 to 7.5B to provide 430MW to the country by 2031.
Marcos is currently in the United States for a meeting with US President Joe Biden.
Marcos said the Philippines had power supply shortfall and NuScale’s support would help address this problem.
“We need everything. We just have to have everything and this new technology is something,” the President said.
Clayton Scott, NuScale executive vice president for business, said the company had “very high confidence that our technology will perform as expected.”
He was referring to NuScale’s small modular reactor (SMR) technology, the first and only one of its kind to receive design approval from the US Nuclear Regulatory Commission.
The US-based firm has existing projects in Utah, Romania, Indonesia, and Poland providing safe, reliable and cost competitive clean energy to consumers.
Apart from Scott, also present in the meeting were NuScale Director for Sales Cheryl Collins and the company’s local partner Enrique Razon, representing his Prime Infrastructure Capital, Inc. (Prime Infra).
Joining the President in the business meeting were Speaker Martin Romualdez, Trade Secretary Alfredo Pascual, Energy Secretary Raphael Lotilla, Special Assistant to the President Secretary Antonio Lagdameo Jr., Communications Secretary Cheloy Garafil, and Philippine Ambassador to the US Jose Manuel Romualdez.