P162-M U.S. grant backs Meralco nuclear plan

Nuclear power is edging closer to entering the country’s energy mix, with Manila Electric Co. (Meralco) securing funding to assess its viability.

Meralco, through its unit Meralco PowerGen Corp. (MGEN), has secured a $2.8-million grant, equivalent to approximately P162 million, from the United States Trade and Development Agency (USTDA) to fund a study on deploying small modular reactors (SMRs).

Feasibility study

The company said on Wednesday that the grant will finance a feasibility study to identify viable SMR technologies and potential sites in the Philippines.

The study, targeted to begin this year, will evaluate reactor designs, shortlist options suited for the local market, and conduct preliminary siting assessments.

It will also produce an implementation roadmap that covers commercial, financial, and regulatory requirements, including timelines and milestones necessary to advance nuclear projects toward development.

“USTDA is proud to lead the US government’s efforts to develop strategic infrastructure projects that both our countries have prioritized,” said Thomas R. Hardy, USTDA’s deputy director.