Phl advancing nuke talks
‘Nuclear energy is more than just power; it’s a promise of a clean, strong future where progress and care for our planet go hand in hand.’
Daily Tribune‘Nuclear energy is more than just power; it’s a promise of a clean, strong future where progress and care for our planet go hand in hand.’
The Philippines is advancing its discussions with fellow members of the Asia-Pacific Economic Cooperation or APEC to address pressing concerns in developing nuclear energy as a more reliable and cost-effective power source in the region.
"Nuclear energy is more than just power; it's a promise of a clean, strong future where progress and care for our planet go hand in hand," Aboitiz Group President and CEO Sabin Aboitiz said on Friday.
Aboitiz is a member of the APEC Business Advisory Council or ABAC Philippines. He also sits as the vice chairman of the ABAC Sustainable Growth Working Group.
Nuclear energy transition
Thus, ABAC Philippines has slated its second roundtable discussion with ABAC Canada next week to understand the Nuclear Energy transition.
The discussion will serve as a platform for industry experts, policymakers, and leaders to collectively deliberate on significant questions and concerns related to the transition to nuclear energy.
The talks will cover the determining mechanisms for transition financing, assessing the commercial viability of nuclear energy, and exploring the potential for retrofitting and upgrading existing plants to be nuclear-capable.
Biggest nuclear expansion
For his part, Jan De Silva — ABAC Canada member, ABAC Digital & Innovation Working Group chair, and former president and CEO, Toronto Region Board of Trade — said the discussion will be timely as Ontario, Canada is currently taking on its biggest nuclear expansion.
"We are doubling production at the world's largest nuclear generation station, refurbishing our oldest operating plant, and working on four small modular reactors. These are the most scalable clean energy solutions to meet our growing need for electrification," De Silva said.
Additionally, the second roundtable will also serve as a preparatory platform for finalizing the ABAC Sustainability Working Group presentation on nuclear energy in the upcoming ABAC 4 meetings in November.
Aboitiz Power Corp., the holding company for energy-related investments of the Aboitiz Group, previously announced its exploratory discussion with Ultra Safe Nuclear Corp., an American firm that can potentially help the company's local nuclear energy development.
Highly politicized issue
AboitizPower president and CEO Emmanuel V. Rubio conveyed that nuclear power, despite being a highly politicized issue, will ramp up affordable electricity supply in the country, especially during summer months when demand is historically higher.
"We are in early discussions. Nuclear power should always be an option for the country. When it becomes available, it's going to be an economically feasible solution that's not emitting carbon dioxide but there has to be several items that need to be in place," Rubio told reporters.
Among others, he said there should be a government-to-government agreement in terms of nuclear development to ensure that its implementation will strictly follow the International Atomic Energy Agency.
"For this technology, I think the licensing will be around 2027 to 2028 so it's going to be beyond that. Maybe around 2030, we can seriously consider that option," he added.
