ILOILO CITY — The Philippine government can start jointly pursuing nuclear development with the United States after the landmark Civil Nuclear Cooperation Agreement (123 Agreement) came into force last week.
The Office of the Spokesperson of the US Department of State announced on Tuesday that the 123 Agreement, which received US Congress approval, was activated last 2 July.
“The 123 agreement, signed last year in November and just recently went into effect, can ramp up much of their commercial activities of nuclear development. This is the perfect time to shift gears a little bit,” US Embassy Commercial Counselor Paul Taylor said during a media forum on Tuesday.
Working group
To kick off the partnership, Taylor said the US Civil Nuclear Industry Working Group for Southeast Asia, initially composed of 14 companies, was created to help bring American technologies to the Philippines.
The working group is scheduled to hold its first meeting on 31 July to explore avenues for collaboration between the United States and the Philippines in the commercial deployment of nuclear power.
“We expect to ramp up to somewhere close to 40. These are companies that are providing technology, services, and know-how that the Philippines will need to accelerate the development of this industry sector,” Taylor said.
Governing framework
The 123 Agreement provides a legal framework for the US to export nuclear materials, equipment, and components to other countries.
It allows for the transfer of materials and information for nuclear research and civil nuclear energy production, with a shared commitment to nuclear nonproliferation.
The agreement will expand collaboration on clean energy and energy security, as well as strengthen the long-term diplomatic and economic ties between the two nations.
Private sector push
Among the private sector, Meralco has been actively pursuing nuclear energy development and it even hopes to see an operational power plant in the country by 2028 or before the conclusion of the Marcos administration.
The company recently concluded its pre-feasibility study on local nuclear power development, which nominated five particular areas, prompting the company to launch a deeper and more formal study.
To complement the private sector’s efforts, the Department of Energy officially formed a Nuclear Energy Division in May, tasked with spearheading the government’s thrust to develop nuclear energy as a viable source of affordable and reliable power.
The Philippines government has long been exploring nuclear power as an energy source in line with the global push to reduce fossil fuel use.
Nuclear energy can potentially energize small islands by putting up small modular nuclear power plants, especially in areas not yet connected to the main grid.
Meanwhile, Trade and Industry Secretary Alfredo Pascual said, “The US-Philippines civil nuclear cooperation agreement is a significant step toward diversifying and strengthening our energy portfolio. This partnership underscores our commitment to clean and sustainable energy, vital for achieving our climate and economic goals.
Nuclear energy will enhance our energy security and support economic growth. The Department of Trade and Industry sees this agreement as a key opportunity to attract investments in clean energy, bolstering our position as a prime investment destination.”
