Palace: US nuclear power firm keen on investing in PH
WASHINGTON D.C., United States — A US-based nuclear power firm has expressed interest to invest in the Philippines after its officials met with President Ferdinand “Bongbong” Marcos Jr. here on Monday (early morning Tuesday Manila time).
According to the Presidential Communications Office (PCO), Oregon-based NuScale Power Corp is planning to conduct a study to pinpoint a site in the Philippines.
The firm is known for developing a small nuclear power system, described as safe, modular, and scalable.
Clayton Scott, NuScale executive vice president for business, said the company has “very high confidence that our technology will perform as expected,” referring to its small modular reactor technology (SMR).
He said SMR technology is the first and only one of its kind to receive design approval from the US Nuclear Regulatory Commission.
NuScale has existing projects in Utah, Romania, Indonesia, and Poland providing safe, reliable and cost competitive clean energy to consumers.
According to the PCO, NuScale is expected to invest $6.5 billion to $7.5 billion in the Philippines to provide 430 megawatts of power by 2031.
President Ferdinand “Bongbong” Marcos Jr. said in his meeting with NuScale that the Philippines “essentially has a shortfall in power supply, and the support of the Oregon-based firm would help address the issue.
This is the second time Marcos met with officials of NuScale, the first of which was held in New York in September last year on the sidelines of the 77th United Nations General Assembly.