DOE readies perks for nuclear power producers

MANILA, Philippines – The Department of Energy (DOE) hopes to get more traction for the Philippines’ nuclear energy dream as it readies some perks to ensure players can recover their investments.

Energy Secretary Sharon Garin said the agency would issue a circular meant to guide potential developers of nuclear power plants, especially for the first project jumpstarting the market.

READ: PH is ready for responsible nuclear energy use – Dy

The DOE would also identify the benefits of pursuing such projects in the Philippines.

The draft may be released by the end of the year or early 2027.

“We will have offers for those who would first build the [plant] … They’ll be assured of a rate of return, similar to a GEA (green energy auction) project. So, there’s a certain assurance on the cost recovery,” she told reporters on Wednesday.

The government’s GEA program is aimed at expanding renewables’ share in the electricity generation mix to 35 percent by 2030 from the current 25 percent. It provides fixed rates to winning power bidders.

“But we still have to determine the site, what technology it will be,” Garin added.

Earlier this year, the government finalized an approval process for the planned projects, a headway that can help the Philippines deliver the first kilowatt-hour of nuclear power by 2032.

Garin previously said that they were targeting to start welcoming applications within the year.

In May, the DOE also said it had discussions with energy giant Aboitiz Power Corp. and state-run National Power Corp. for the launch of a comprehensive feasibility study on identifying power plant sites, which could include the mothballed Bataan Nuclear Power Plant (BNPP).

The BNPP was completed in 1986, but this was never put into operation due to allegations of corruption and issues with safety. INQ