Aboitiz Power Corp. said discussions on potential nuclear power projects remain at a very early stage, with no decisions or timelines finalized despite the company’s participation in a government-led feasibility study.

The listed energy firm confirmed on Thursday that it had signed a memorandum of understanding with the Department of Energy (DoE) and National Power Corp. to study the feasibility of potential nuclear power sites in the Philippines, including the possible revival of the mothballed Bataan Nuclear Power Plant (BNPP).

However, the company emphasized that the agreement is purely exploratory and non-binding, with no commitment to pursue or build a nuclear power facility at this time.

“At this stage, the Company is focused on preliminary evaluations and, consequently, no decisions or schedule around this have been defined,” AboitizPower said in a disclosure.

Strong option

The company cast the study as part of its long-term push to secure more stable and competitively priced electricity as the country continues to grapple with high power rates and growing energy demand.

“AboitizPower remains focused on providing reliable and reasonably priced energy to its customers while minimizing environmental and community impact,” the company said.

The DoE earlier said the agreement would support a comprehensive feasibility study of potential nuclear power sites — including the BNPP — covering site suitability, safety, security, infrastructure and regulatory readiness in accordance with International Atomic Energy Agency standards.

Under the Philippine Energy Plan, the government is targeting 1,200 megawatts of nuclear capacity by 2032, scaling up to 2,400 MW by 2035 and 4,800 MW by 2050 as part of efforts to diversify the country’s energy sources.